Share Market Today: Sensex Jumps 520 Points; Nifty Around 25570. Realty, Metal Shine
Share market today: On the 30-share Sensex platform, JSW Steel, Tata Steel, Nestle, L&T, M&M, Adani Ports emerged early gainers
Share market today: The two key equity benchmark indices, Sensex and Nifty, on Friday are trading in the green, led by overnight gains in the US stock markets, amid positive cues from Asian markets. At 10.05 am, the BSE Sensex rose 520 points to 83,705. On the other hand, the NSE Nifty50 was trading at 25,571, rising 156 points.
Stock update
On the 30-share Sensex platform, JSW Steel, Tata Steel, Nestle, L&T, M&M, Adani Ports emerged early gainers. On the down side, NTPC, Tata Motors, IndusInd Bank, Titan, TCS, Bajaj Finance were among the losers.
Sectoral update
Sectorwise, except IT, all other sectoral indices are trading in the green with metal, realty advancing 1 per cent each.
In the previous session on Thursday, Sensex gained 237 points to end at 83,185, while the Nifty50 jumped 38 points to settle at 25,416.
"The Dow and S&P 500 setting yet another record highs yesterday is indicative of the strength of this ongoing global bull-run led by the mother market US," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
Global update
In Asian markets, Seoul, Tokyo, and Hong Kong were trading in the green while Shanghai traded lower. The US markets ended remarkably higher on Thursday.
Markets across the Asia-Pacific region opened higher on Friday, following a strong rally on Wall Street. Japan's Nikkei 225 led the gains, rising 1.76 per cent, while Australia's S&P/ASX 200 edged up 0.2 per cent. Futures for Hong Kong's Hang Seng index stood at 18,177, above the previous close of 18,013, and futures for China's blue-chip CSI 300 were at 3,198.8, slightly up from the last close of 3,196.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,547.53 crore on Thursday, according to exchange data.
Global oil benchmark Brent crude dipped 0.17 per cent to $74.75 a barrel.
Rupee rises 9 paise
The rupee extended its upward momentum for the third consecutive session, appreciating by 9 paise to reach 83.56 against the US dollar in early trading on Friday. This rise was bolstered by a strong domestic equity market and a weakening US currency.
Forex traders noted that lower crude oil prices provided additional support to the Indian currency, although some pressure from foreign fund outflows limited its gains.
At the interbank foreign exchange market, the rupee opened at 83.63 and strengthened further to 83.56 against the dollar, marking a 9 paise increase from its previous close. On Thursday, the rupee had gained 11 paise to settle at 83.65 against the US dollar, after a 10 paise rise on Tuesday.
The forex market remained closed on Wednesday due to a holiday declared by the Maharashtra government.
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