25 C
Surat
Monday, December 9, 2024

Stock market today: BSE Sensex surges over 700 points; Nifty50 above 24,100


According to Hrishikesh Yedve of Asit C. Mehta Investment Intermediates, strong resistance persists at 24,350-24,360 levels. (AI image)

Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, surged in trade on Friday a day after plunging sharply. While the BSE Sensex moved up over 700 points, Nifty50 reclaimed 24,100. At 11:05 AM, BSE Sensex was trading at 79,752.69, up 709 points or 0.90%. Nifty50 was at 24,115.95, up 202 points or 0.84%.
The benchmark equity indices showed an upward trend on Friday, recovering from their sharpest decline in nearly two months during the previous session, as traders adjusted positions during monthly derivatives expiry.
Among Sensex components, Sun Pharma and Bharti Airtel advanced by 3%, whilst M&M, Reliance, L&T, Adani Ports, and JSW Steel gained about 2%. Conversely, Power Grid, IndusInd Bank and SBI experienced declines.
The total market value of BSE-listed companies increased by Rs 2.27 lakh crore to Rs 445.54 lakh crore, according to an ET report.
Domestic indices declined approximately 1.5% on Thursday, affected by profit-taking in IT stocks following a rally and positional adjustments due to November derivatives expiry.
All sectoral indices, except Nifty Realty, opened positively. Nifty Media led with a 2.1% increase, followed by Nifty Pharma and Healthcare gaining nearly 1.5%. Other sectors including Banking, Auto, Financials, IT, Consumer Durables, and Oil & Gas rose up to 0.5%.
Asian markets declined on Friday, while the yen headed towards its strongest weekly performance in four months. The MSCI’s broadest index of Asia-Pacific shares outside Japan decreased by 0.3%, showing a 0.5% weekly decline.
Foreign Institutional Investors sold equities worth Rs 11,756 crore, while Domestic Institutional Investors purchased equities valued at Rs 8,718 crore on November 28.
Oil prices remained mixed on Friday amid potential supply risks, with Brent crude futures at $73.21 per barrel and US WTI crude at $69.10.
The Indian rupee weakened by 2 paise to 84.49 against the US dollar in early trading, while the dollar index fell 0.2% to 105.83.





Source link

Latest Articles