Stock Market: Sensex Surges Over 500 Points, Nifty Trades Around 17,475 On Strong Cues. SBI Jumps 3 Per Cent

Stock update: On the 30-share Sensex platform, barring Sun Pharma and Asian Paints, the rest 28 scrips were trading in the green, with SBI leading over 3.6 per cent

The broader markets also edged higher as Nifty Midcap 100 and Nifty Smallcap 100 indices jumped up to 0.7 per cent.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Friday bounced back sharply in early morning trade on robust global sentiment.

At 9.35 am, the BSE Sensex climbed 500 points to 59,409, while on the other hand, the NSE Nifty was trading at 17,475, up 154 points.

On the 30-share Sensex platform, barring Sun Pharma and Asian Paints, the rest 28 scrips were trading in the green, with SBI leading over 3.6 per cent. PowerGrid, IndusInd, NTPC, HCL, Reliance were the other notable gainers.

#ABPLiveStockMarketWatch | Sensex and Nifty on Friday bounced back sharply on robust global sentiment

At 09:56 AM, #Sensex went up by 555 points to 59,464 & #Nifty by 171 points to 17,493

Here's a look at the stocks in focus:#StockMarket #StockMarketPrices #Trading #Stock pic.twitter.com/f0ccEj2Wes

— ABP LIVE (@abplive) March 3, 2023

Among individual stocks, shares of Ramco Systems surged over 2 per cent after the company partnered with Etihad Airways Engineering to implement its Aviation Suite V5.9. Besides, shares of Indiabulls Housing Finance gained over 1 per cent after the company announced Rs 900-crore debt sale through NCDs.

The broader markets also edged higher as Nifty Midcap 100 and Nifty Smallcap 100 indices jumped up to 0.7 per cent.

Meanwhile, volatility index, India VIX, slipped over 5 per cent.

All sectors were trading in the positive zone, with Nifty PSU Bank, and Nifty Metal indices leading the charge and gaining up to 3 per cent.

In the previous session on Thursday, the BSE Sensex plunged 502 points to 58,909. On the other hand, the NSE Nifty closed trade at 17,322, down 129 points.

In Asian markets, Seoul, Japan, China and Hong Kong were trading in the green. The US markets had ended higher on Thursday.

Foreign Portfolio Investors (FPIs) bought shares worth Rs 12,770.81 crore on Thursday, according to exchange data.

International oil benchmark Brent crude dipped 0.40 per cent to $84.43 per barrel.

Meanwhile, the rupee gained 36 paise to 82.24 against the US dollar in early trade on Friday as fresh foreign fund inflows and a positive trend in domestic equities strengthened investor sentiments.

At the interbank foreign exchange, the domestic unit opened at 82.28 against the dollar, then gained ground and rose to 82.24, registering a rise of 36 paise over its previous close. On Thursday, the rupee closed at 82.60 against the US currency.