Stock Market Today: Sensex Up Over 500 Points, Nifty Over 22,100 Amid US Interest Rate Cut Hopes

At the start of the trading session, the Sensex rose by 107.17 points, or 0.15 per cent, to reach 72,511.34, while the Nifty climbed by 37.30 points, or 0.17 per cent, to stand at 22,994.90.

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Indian benchmark indices halted their fall and opened in green on Friday, reflecting the positive momentum in global markets buoyed by growing optimism regarding potential US Federal Reserve rate cuts. At the start of the trading session, the Sensex rose by 107.17 points, or 0.15 per cent, to reach 72,511.34, while the Nifty climbed by 37.30 points, or 0.17 per cent, to stand at 22,994.90.

At 10 am, the Sensex gained 529.55 points, or 0.73 per cent, reaching 72,933.72, while the Nifty had risen by 147.35 points, or 0.67 per cent, to stand at 22,104.85.

In the previous trading session on Thursday, the Sensex wrapped up the session with a notable decrease of 1,062 points, settling at 72,404, whereas the Nifty 50 experienced a decline of 335 points, ending the day at 21,967.

Stock Update

On the BSE Sensex, ITC, Sun Pharma Asian Paints, JSW Steel, and Nestle were top gainers, while Infosys, HCL Tech, L&T, Mahindra and Mahindra, and HDFC Bank were among the prominent losers.

Among the Nifty 50 shares,  ITC, BPCL, Sun Pharma, NTPC and JSW Steel were among the stocks trading higher. LTIM, Infosys, Grasim, L&T and Tata Consumer Products were trading in the red zone.

Broder Market

While the benchmark indices surged ahead, the broader market indices displayed a mixed performance. The BSE MidCap index showed a modest increase of 0.25 per cent, while the BSE SmallCap index experienced a slight decline of 0.01 per cent in trading.

Asian Market

Asian markets saw an uptick on Friday, mirroring the positive sentiment on Wall Street. Meanwhile, oil prices continued their upward trajectory, buoyed by indications of a strengthening Chinese economy and ongoing negotiations between Israel and Hamas. In early Asian trading, the U.S. dollar showed weakness, having ceded ground to the euro and sterling overnight. This was attributed to US data suggesting a cooling labour market and increasing likelihood of Federal Reserve rate cuts later in the year.