Stock Markets Extend Rally; Sensex Rises 206 Points, Nifty Trades At 17,300
Stock update: On the BSE, Dr Reddy was leading the pack, with a lead of 2.74%, followed by Sun Pharma, Tata Steel, Kotak Bank, M&M, IndusInd, HDFC Bank, ICICI Bank, HDFC, Bharti Airtel, and others
New Delhi: The key equity benchmarks, Sensex and Nifty, on Friday extended their rally in early trade on the back of positive global cues.
At 10.30 am, the 30-share BSE Sensex was up 206 points to 57,727, while the broader NSE Nifty was trading at 17,299, up 54 points.
On the BSE, Dr Reddy was leading the pack, with a lead of 2.74 per cent, followed by Sun Pharma, Tata Steel, Kotak Bank, M&M, IndusInd, HDFC Bank, ICICI Bank, HDFC, Bharti Airtel, and others. On the flip side, Axis Bank was the top loser (4.13 per cent), followed by PowerGrid, Wipro, TechM, ITC, and others.
The broader markets were also in green with the BSE Midcap and Smallcap indices gaining up to 0.73 per cent.
Sectorewise, Nifty pharma, realty and psbs were the leading winners. Other notable gainers included IT, auto, financials and metals. Nifty FMCG was the only loser.
Among stocks, Shriram Transport Finance rose over 6 per cent as the company posted a 44 per cent increase in net profit in the for Q4 to Rs. 1,086.13 crore.
During previous trading on Thursday, the BSE benchmark surged 701 points (1.23 per cent) to end at 57,521. The Nifty rallied 206 points (1.21 per cent) to 17,245.
In the Asian markets, Hong Kong, Shanghai, and Seoul were trading in the positive territory in mid-session deals.
The US stocks had ended with significant gains on Thursday.
Meanwhile, international oil benchmark Brent crude gained 0.2 per cent to $107.80 per barrel.
According to stock exchange data, foreign institutional investors (FIIs) turned net buyers after their continuous selling spree for the past many days, as they bought shares worth Rs 743.22 crore on Thursday.
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