Stock Market Today: Sensex Jumps 780 Points; Nifty Trades Above 21,900. All Sectors In The Green

Stock update: On the 30-share Sensex platform, PowerGrid, Infosys, Reliance, NTPC, TCS, TechM were among the lead gainers. On the down side, Axis Bank, HUL, Titan, and Maruti emerged losers

The two key equity benchmarks, Sensex and Nifty, on Friday were back in the green, a day after the interim Budget, with robust gains seen in IT, financials stocks overseas cues. At 11 am, the BSE Sensex jumped 776 points to 72,421. On the other hand, the NSE Nifty50 was trading at 21,942, up 245 points.

On the 30-share Sensex platform, PowerGrid (4.82 per cent), Infosys, Reliance, NTPC, TCS, TechM were among the lead gainers. On the down side, Axis Bank, HUL, Titan, and Maruti emerged losers.

In the broader market, the BSE Midcap and Smallcap indices had rallied over 1 per cent each.

Sectorwise, all the indices are trading in the green with IT, metal, oil & gas, power, and realty advanced 1-2 per cent each.

In the previous session on Thursday, the Sensex fell 107 points to end at 71,645.30 on the Budget day, while the NSE Nifty declined 28 points to 21,697.

"The bull market at Dalal Street is thriving, fuelled by positive developments such as Wall Street's surge, a 3 per cent drop in WTI oil prices, and the promising interim Union Budget," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

In Asian markets, Seoul, Tokyo, and Hong Kong were trading in the positive territory, while Shanghai quoted in the red. The US markets ended with significant gains on Thursday.

Global oil benchmark Brent crude climbed 0.71 per cent to $79.26 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,879.58 crore on Thursday, according to exchange data. 

Meanwhile, the rupee appreciated 16 paise to 82.82 against the US dollar in early trade on Friday supported by positive domestic equities, as the interim budget focused on higher capex and faster fiscal consolidation. Forex traders said the interim budget had a positive impact on the domestic currency as it highlighted a reduction in the fiscal deficit to 5.1 per cent of GDP for FY25.

Moreover, the weakness of the American currency in the overseas market also boosted sentiments. At the interbank foreign exchange, the rupee opened at 82.91 against the dollar and then touched a high of 82.82, registering a gain of 16 paise over its previous close. The rupee gained by 6 paise to close at 82.98 against the US dollar on Thursday after the government hinted at faster fiscal consolidation and lower borrowings in interim budget for 2024-25.