Stock Market Extends Winning Run: Sensex Jumps 320 Points; Nifty Nears 20,200. Auto Leads

Stock update: On the 30-share Sensex platform, Airtel, M&M, HCL, Tata Motors, TechM, HDFC Bank emerged gainers

The two key equity benchmarks, Sensex and Nifty, on Friday extended their record breaking winning streak into third straight day amid positive global trends. The S&P BSE Sensex hit a new lifetime high of 67,927 during intraday trading. However, it closed at 67,839, up 320 points. On the other hand, the Nifty50, settled 89 points higher at 20,192. It notched a new high of 20,222 during intraday trading.

On the 30-share Sensex platform, Airtel, M&M, HCL, Tata Motors, TechM, HDFC Bank emerged gainers. On the downside, Asian Paints, HUL, Bajaj Finserv, NTPC, IndusInd Bank, PowerGrid were among the losers.

In the broader markets, the BSE Midcap and Smallcap indices gained 0.09 per cent and 0.3 per cent, respectively.

Sectorwise, the Nifty Auto index advanced 1.6 per cent on the NSE, followed by the Nifty IT (up 0.9 per cent).

In the previous session on Thursday, the S&P BSE Sensex ended at 67,519, up 52 points, while the NSE Nifty50 settled at 20,103, up 33 points.

"The market is inching towards a new direction with renewed buying in auto and IT stocks in expectation of strong festive demand and a strong deal wins. Better-than-expected economic data from China and stimulus hopes further added optimism in global markets.The ECB (European Central Bank) hinted at a potential pause in rates due to receding inflation, while investors are now focused on central bank meetings next week, with the US FED, BoE (Bank of England), and BoJ (Bank of Japan) set to announce their rate decisions," said Vinod Nair, Head of Research at Geojit Financial Services.

In Asian markets, Seoul, Tokyo, and Hong Kong ended with gains, while Shanghai settled lower. European equities were trading in the green. The US markets ended in positive territory on Thursday.

Foreign Institutional Investors (FIIs) turned buyers on Thursday as they bought equities worth Rs 294.69 crore, according to exchange data.

Global oil benchmark Brent crude climbed 0.26 per cent to $93.94 a barrel.

Meanwhile, the rupee fell 12 paise to settle at 83.15 (provisional) against the US dollar on Friday, dragged down by rising crude oil prices and a strong greenback against major rivals overseas. However, a positive trend in domestic markets restricted the downside for the local unit, forex traders said.

At the interbank foreign exchange market, the local unit opened at 83.02 against the US dollar and moved in a range of 82.98 and 83.20. The rupee finally settled at 83.15 (provisional) against the US dollar, down 12 paise from its previous close. On Thursday, the rupee closed 2 paise lower at 83.03 against the US dollar.