Stock Market Today: Sensex Gains 167 Points; Nifty Ends Around 21,800. SBI Up 3.5 Per Cent
Stock update: On the 30-share Sensex platform, SBI, Sun Pharma, ICICI Bank, Axis Bank, Titan, Bajaj Finance were among the gainers. M&M, Airtel, NTPC, Tata Steel, Infosys, JSW Steel emerged losers
The two key equity benchmarks, Sensex and Nifty, on Friday closed in the green after lacklustre trade amid volatility. The S&P BSE Sensex advanced 167 points to end at 71,595. On the other hand, the NSE Nifty50 settled at 21,783, up 65 points.
On the 30-share Sensex platform, SBI, Sun Pharma, ICICI Bank, Axis Bank, Titan, Bajaj Finance were among the gainers. On the down side, M&M, Airtel, NTPC, Tata Steel, Infosys, JSW Steel emerged losers.
#ABPStockMarketWatch | Sensex and Nifty closed higher after lacklustre trade, on Friday
— ABP LIVE (@abplive) February 9, 2024
At 04:00 PM, #Sensex gained 167 points to 71,595 & #Nifty gained 65 points to close at 21,782
Here's a look at the stocks in focus:#ABPLive #ClosingBell #MarketWatch pic.twitter.com/Sm4lZyclW5
In the broader markets, the BSE Midcap and Smallcap eventually closed 0.82 per cent and 1.4 per cent lower, respectively.
Sectorwise, the Nifty Metal index dropped 1.5 per cent, followed by the Nifty Auto and IT indices Nifty Bank index gained 1.5 per cent and Pharma indices up 0.5 per cent each.
In the previous session on Thursday, the S&P BSE Sensex sank 724 points to close at 71,428, while the NSE Nifty50 closed at 21,718, down 213 points.
"After a volatile session, the market ended on a positive note, aided by a rebound in banking stocks after yesterday’s sell-off. Mid and smallcap indices bled the most as the sentiment on the broader indices remains vigilant due to their rich valuation," said Vinod Nair, Head of Research, Geojit Financial Services.
In Asia, Tokyo and Shanghai markets ended in the green, while Hong Kong ended lower. European markets were trading on a mixed note. The US markets ended in the green on Thursday.
Foreign institutional investors (FIIs) offloaded equities worth Rs 4,933.78 crore on Thursday, according to exchange data.
Global oil benchmark Brent crude climbed 0.04 per cent to $81.66 a barrel.
Meanwhile, India rupee fell by 7 paise to 83.03 (provisional) against the US dollar on Friday, tracking a strong US currency and elevated crude oil prices in the international market. Forex traders said the Indian rupee depreciated as foreign fund outflows weighed on the rupee. However, positive domestic markets cushioned the downside.
At the interbank foreign exchange market, the local unit opened at 82.96 and finally settled at 83.03 (provisional) against the dollar, down by 7 paise from its previous close. On Thursday, the rupee settled on a flat note at 82.96 against the US dollar, after the Reserve Bank decided to keep the key policy rate unchanged for the sixth time in a row to maintain a tight vigil on inflation.
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