Share Market Today: Sensex Rises 759 Points; Nifty Ends Above 24,100. Airtel Jumps 4.3%

Share Market Today: On the 30-share Sensex platform, Airtel, Mahindra & Mahindra, UltraTech Cement, Adani Ports, Reliance Industries, Larsen & Toubro, JSW Steel, HUL were the biggest gainers

In the broader markets, BSE Smallcap index jumped 0.76 per cent and Midcap index rose by 0.31 per cent.

Source : PTI

Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Friday rebounded following buying in frontline stocks Bharti Airtel and Reliance Industries. The Sensex rallied 759 points, while Nifty closed above 24,100. The 30-share BSE Sensex jumped 759 points to end at 79,802. During the day, it soared 880 points to 79,924. On the other hand, the NSE Nifty50 climbed 217 points to 24,131.

Stock update

On the 30-share Sensex platform, Bharti Airtel, Mahindra & Mahindra, UltraTech Cement, Adani Ports, Reliance Industries, Larsen & Toubro, JSW Steel, Hindustan Unilever, Titan and Tata Motors were the biggest gainers. On the down side, Power Grid, Nestle, State Bank of India, and Infosys were the losers.

Majority of Adani Group firms ended higher, with Adani Green Energy soaring 21.72 per cent and Adani Energy Solutions surging 15.56 per cent on the BSE.

In the broader markets, BSE Smallcap index jumped 0.76 per cent and Midcap index rose by 0.31 per cent.

As many as 2,347 stocks advanced while 1,606 declined and 97 remained unchanged on the BSE.

In the previous session on Thursday, the BSE Sensex tanked 1,190 points to 79,043, while the NSE Nifty50 closed at 23,914, down 361 points.

"A large-cap-driven, broad-based rally ensued in the domestic market. The anticipated slowdown in India's Q2 GDP to 6.5 per cent has already been reflected in Q2 corporate earnings, which the market appears to have discounted," Vinod Nair, Head of Research, Geojit Financial Services said.

Sectoral update

Among the sectoral indices, BSE Healthcare led the gains with a 2.05 per cent rise, followed by Telecommunications (1.53 per cent), Utilities (1.46 per cent), Energy (1.09 per cent), Commodities (1.04 per cent), and Tech (1.02 per cent). Realty was the sole underperformer.

Global update

In Asian markets, Shanghai and Hong Kong settled in the positive territory while Seoul and Tokyo ended lower. European markets were trading lower. US markets were closed on Thursday for Thanksgiving.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 11,756.25 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude dipped 0.30 per cent to $73.06 a barrel.

Rupee falls 2 paise

The rupee fell 2 paise to close at 84.49 (provisional) against US dollar on Friday, dragged down by significant foreign fund outflows and month-end dollar demand from importers. Forex traders said, dollar demand from importers weighed on the rupee. However, positive domestic markets and a correction in crude oil prices cushioned the downside.

At the interbank foreign exchange, the rupee opened at 84.49 and touched the lowest level of 84.50 against the greenback during intra-day. The unit ended the session at 84.49 (provisional) against the dollar, registering a fall of 2 paise over its previous close. On Thursday, the rupee depreciated 7 paise to close at 84.47 against US dollar.