Share Market Today: Sensex Jumps 820 Points; Nifty Above 24365 Amid Rally In Global Stocks

Share market today: On the 30-share Sensex platform, barring Sun Pharma and Kotak Bank, the rests 28 constituents settled in the green. TechM, Tata Motors, M&M, JSW Steel were among the lead gainers

In the broader market, indices performed well, with Nifty Next 50 and Nifty 100 gaining 1.24 per cent and 1.05 per cent, respectively, while Midcap and Smallcap shares also closed in the green.

Source : PTI

Share market today: The two key equity benchmarks, Sensex and Nifty, on Friday rebounded following buying in blue-chips such as Reliance and Infosys amid a rally in global equity markets. The 30-share BSE Sensex rose 820 points to close at 79,706. On the other hand, the NSE Nifty50 soared 251 points to 24,368.

Stock update

On the 30-share Sensex platform, barring Sun Pharma and Kotak Bank, the remaining 28 constituents settled in the green. TechM, Tata Motors, M&M, JSW Steel, HCLTech, SBI were among the lead gainers.

India VIX, the fear index, dropped 7.45 per cent to 15.37 points.

In the broader market, indices performed well, with Nifty Next 50 and Nifty 100 gaining 1.24 per cent and 1.05 per cent, respectively, while Midcap and Smallcap shares also closed in the green.

Sectoral update

Sectoral indices finished higher, with Banking, Auto, IT, Media, and OMC leading gains of up to 1.92 per cent.

In the previous session on Thursday, the BSE benchmark dropped 582 points to settle at 78,886, while the NSE Nifty50 closed lower by 181 points to 24,117.

"Positive US jobless claims data eased the fears of recession and provided a favourable broader market reaction,” Vinod Nair, Head of Research, Geojit Financial Services said.

Global update

In Asian markets, Tokyo, Seoul and Hong Kong ended higher while Shanghai settled lower. European markets were trading in positive territory. The US markets ended significantly higher on Thursday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,626.73 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude climbed 0.03 per cent to $79.18 a barrel.

Rupee rises by 2 paise

The rupee consolidated in a narrow range and settled for the day higher by 2 paise at 83.95 (provisional) against US dollar on Friday, supported by gains in the domestic markets. Forex traders said the rupee edged up slightly on gains in the domestic markets. However, a surge in crude oil prices capped sharp gains for the local unit.

At the interbank foreign exchange market, the local unit opened at 83.95 and touched an intraday low of 83.96 and a high of 83.88 against the dollar during the session.

It finally settled at 83.95 (provisional) against the American currency, higher by 2 paise from its previous close. The local unit had slumped 37 paise to settle at an all-time low of 84.09 against the US dollar on Monday.