Benchmark stock index Sensex gained nearly 450 points on Friday due to buying in metal stocks and positive global trends. Whereas the broader Nifty closed above the level of 26,000. The 30-share BSE Sensex closed at 85,267.66, up 449.53 points or 0.53 per cent. During the day, it was up 502.69 points or 0.59 per cent at 85,320.82. The 50-share NSE Nifty closed at 26,046.95, up 148.40 points or 0.55 percent. On Friday, the rupee fell 9 paise to close at an all-time low of 90.41 against the US dollar.
Condition of Sensex companies
Tata Steel, Eternal, UltraTech Cement, Larsen & Toubro, Maruti and Bharti Airtel were the major gainers among Sensex companies. At the same time, Hindustan Unilever, Sun Pharma, ITC and Asian Paints were among the laggards.
Global sentiment improved due to Fed decisions
Vinod Nair, Head of Research, Geojit Investments Ltd, said global risk appetite has improved after the US Federal Reserve cut interest rates, leading to optimism over liquidity and a rise in domestic stock markets despite the rupee hitting a record low and continued outflows of foreign investors (FIIs). Broader indices are showing buying trends and making a comeback after recent consolidation.
Growth seen in European markets
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index settled in positive territory. European markets witnessed a rise. American markets also closed mostly higher on Thursday.
The price of Brent crude fell to US $ 61.25 per barrel.
Global oil benchmark Brent crude fell 0.05 percent to US $ 61.25 per barrel. According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 2,020.94 crore on Thursday, while domestic institutional investors (DIIs) bought shares worth Rs 3,796.07 crore. On Thursday, the Sensex closed 426.86 points or 0.51 per cent higher at 84,818.13. Nifty rose 140.55 points or 0.55 per cent to 25,898.55.
