Stock Market Today: Sensex Climbs 630 Points; Nifty Atop 22,150 On Robust GDP Data

Stock update: On the 30-share Sensex platform, JSW Steel, Tata Steel, Tata Motors, L&T, PowerGrid, Titan emerged gainers. On the down side, Infosys, Sun Pharma, and HCLTech were the only three losers

In the broader market, the BSE Midcap index gained 0.7 per cent, while the SmallCap rose 1 per cent. ( Image Source :Getty )

The two key equity benchmarks, Sensex and Nifty, on Friday moved higher following string Q3 GDP numbers and positive global cues. At 10.10 am, the BSE Sensex was up 630 points to 73,131. On the other hand, the NSE Nifty50 was trading at 22,178, up 195 points.

On the 30-share Sensex platform, JSW Steel, Tata Steel, Tata Motors, L&T, PowerGrid, Titan emerged gainers. On the down side, Infosys, Sun Pharma, and HCLTech were the only three losers.

#ABPStockMarketWatch | Sensex and Nifty are trading higher following robust Q3 GDP numbers

At 9:25 AM, #Sensex gained 400 points to open at 72,900, and #Nifty gained 146 points to open at 22,129

Here's a look at the stocks in focus:#ABPLive #OpeningBell #MarketWatch pic.twitter.com/zGgVsgUMV4

— ABP LIVE (@abplive) March 1, 2024

In the broader market, the BSE Midcap index gained 0.7 per cent, while the SmallCap rose 1 per cent.

Among sectors, Auto index and Metals index are trading in the green, while Nifty Bank jumped 1 per cent.

In the previous session on Thursday, the BSE benchmark rose 195 points to end at 72,500, while the Nifty climbed 32 points to 21,982.

The main factor influencing the market today will be the better-than-expected Q3 GDP growth number which has come at an impressive 8.4 per cent, said V K Vijayakumar, chief investment strategist, Geojit Financial Services. "The impressive GDP numbers provide the fundamental support to the bull market," he added.

In Asian markets, Tokyo, Shanghai, and Hong Kong were trading in the green. The US markets closed in the green on Thursday.

Global oil benchmark Brent crude declined 0.07 per cent to $83.62 a barrel.

Foreign Institutional Investors (FIIs) turned buyers on Thursday as they bought equities worth Rs 3,568.11 crore, according to exchange data.

Special Trading Session on Saturday

In an extended trading week, the markets will remain open on Saturday as stock exchanges test their Disaster Recovery preparedness. Normal trading will be in two sessions on Saturday from 09:15 am to 10:00 am followed by 11:30 am to 12:30 noon.

Meanwhile, early trade on Friday saw a 4 paise surge in the Indian rupee, reaching 82.85 against the US dollar. This uptick was attributed to robust GDP figures and substantial inflows of foreign funds into domestic capital markets. 

Forex traders noted a favorable sentiment in equity markets, further bolstering the local currency, despite a slightly unfavorable trend in the dollar index. Beginning at 82.86 at the interbank foreign exchange, the rupee strengthened marginally to 82.85 against the dollar, marking a 4 paise rise from its previous close. Notably, on Thursday, the rupee concluded 2 paise higher at 82.89 against the US dollar.