Share market Sensex closed with a jump of 450 points
The domestic stock market witnessed a strong rally on Friday. The benchmark Sensex rose nearly 450 points, while the Nifty once again closed above 26,000. Strong buying in metal stocks and positive cues from global markets boosted investor sentiment. Registering gains for the second consecutive day, the 30-share BSE Sensex jumped 449.53 points (0.53%) to close at 85,267.66. During the day, it surged 502.69 points to reach a high of 85,320.82. Similarly, the 50-share NSE Nifty also gained 148.40 points (0.57%) to close at 26,046.95.
Tata Steel, Eternal, UltraTech Cement, L&T, Maruti, and Bharti Airtel were among the top gainers on the Sensex in the week’s final trading session. Hindustan Unilever, Sun Pharma, ITC, and Asian Paints, on the other hand, declined.
Vinod Nair, Head of Research at Geojit Financial Services, said the US Fed’s interest rate cut has improved global risk appetite. This has increased liquidity optimism, which is supporting the domestic market, even as the rupee continues to fall and FIIs continue to sell. The broader markets are showing strong buying interest after the recent correction.
Brent crude fell marginally by 0.05% to $61.25 per barrel. Foreign exchange (FII) sold shares worth Rs 2,020.94 crore on Thursday, while foreign exchange (DII) bought shares worth Rs 3,796.07 crore. The Sensex rose 426.86 points (0.51%) to close at 84,818.13 on Thursday. The Nifty also rose 140.55 points (0.55%) to close at 25,898.55.
