Stock Market: Sensex Surges 629 Points, Nifty At 18,500. RIL, Sun Pharma Jump 3%, All Sectors In The Green

Stock update: On the 30-share Sensex platform, Reliance, Sun Pharma, HCL, HUL, Wipro, TechM were among the lead gainers. On the flipside, Airtel, PowerGrid, and NTPC were the only three laggards

The two key equity benchmarks, Sensex and Nifty, on Friday closed with broad-based gains, aided by positive global sentiment as investors closely track US debt limit negotiations. After starting trade with nominal gains in the morning, the BSE Sensex surged 629 points to end at 62,502. On the other hand, the NSE Nifty50 settled at 18,499, up 178 points.

On the 30-share Sensex platform, Reliance, Sun Pharma, HCL, HUL, Wipro, TechM were among the lead gainers. On the flipside, Airtel, PowerGrid, and NTPC were the only three laggards.

Among specific stocks, Sun Pharma showed 2.75 per cent gains came after the company posted a net profit of Rs 1,984.5 crore for Q4FY23 versus a net loss of Rs 2,227 crore a year ago. ONGC and Grasim dropped 1 per cent each ahead of their Q4 results, which will be released after market hours. Page Industries also slumped 9 per cent on reporting a sharp decline in profit margins for Q4FY23.

In the broader markets, the BSE Midcap index added 0.8 per cent and the Smallcap index was up 0.5 per cent.

Sectorwise, all indices ended in the green with Metal, FMCG, Information Technology, Realty, Pharma, and PSU Bank up 1 per cent each.

In the previous session on Thursday, the S&P BSE Sensex ended at 61,873, up 99 points, on the other hand, the Nifty50 settled at 18,321, up 36 points.

In Asian markets, Seoul, Tokyo, and Shanghai ended in the green. Equity markets in Europe were trading lower. The US market ended mostly with gains on Thursday.

Foreign Institutional Investors (FIIs) were net buyers on Thursday as they bought equities worth Rs 589.10 crore, according to exchange data.

Global oil benchmark Brent crude climbed 0.24 per cent to $76.44 a barrel.

Meanwhile, the rupee appreciated by 14 paise to 82.58 (provisional) against the US dollar on Friday, supported by foreign capital inflows and a positive trend in domestic equities. However, the elevated level of the US dollar against major crosses overseas restricted the upward movement in the domestic unit, forex traders said.

At the interbank foreign exchange market, the local unit opened at 82.73 against the US dollar and settled at 82.58 (provisional), up 14 paise over its previous close.

During the day, the domestic unit witnessed an intra-day high of 82.56 and a low of 82.73 in the day trade. On Thursday, the rupee closed at 82.72 against the US currency.