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HomeBusinessSensex Jumps 367 Points On Firm Global Trends, snaps 2-day falling streak.

Sensex Jumps 367 Points On Firm Global Trends, snaps 2-day falling streak.

Benchmark equity indices Sensex and Nifty ended the day more than 5% higher, breaking a two-day losing run, thanks to buying in index heavyweights Tata Consultancy Services and Reliance Industries as well as stable global trends.

The 30-share BSE Sensex increased by 367.47 points (0.56%) to close at 66,527.67. The index debuted lower but eventually rose from its lows and reached a high of 66,598.42 thanks to rising shares in power, oil, IT, and FMCG.

To finish at 19,753.80, the NSE Nifty gained 107.75 points, or 0.55 percent.

NTPC increased by around 4% from the Sensex pack after the business reported a consolidated net profit increase of over 23% in the April–June quarter of 2023–24.

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Other Sensex Top Gainers:

Among the other top gainers were Power Grid, Tech Mahindra, Tata Steel, Tata Consultancy Services, Wipro, Maruti, and JSW Steel.

Those who lagged behind included Bajaj Finance, Kotak Mahindra Bank, Hindustan Unilever, ITC, Bharti Airtel, and Asian Paints.

Seoul, Tokyo, Shanghai, and Hong Kong saw positive closing prices in Asian markets.

Market activity in Europe was uneven. The US stock markets closed Friday in favourable territory. Following the trend of the global markets, Indian indices have started to rise again as worldwide inflation has begun to decline, raising hopes that the era of tightening policies is coming to an end.

According to market expectations, the most recent encouraging news was the third consecutive month of falling Eurozone inflation in July, which came in at 5.3%, according to Vinod Nair, Head of Research at Geojit Financial Services. Furthermore, preliminary estimates indicate that the euro zone’s economy expanded by 0.3% in the June quarter, slightly exceeding market expectations, said Nair. Brent crude, the benchmark for all crude oil, increased 0.25 percent to USD 85.20 a barrel.

According to exchange data, foreign institutional investors (FIIs) sold stocks on Friday totaling 1,023.91 crore. The BSE benchmark decreased by 106.62 points or 0.16 percent on Friday to close at 66,160.20. The Nifty finished at 19,646.05. It had dropped 13.85 points, or 0.07 percent.

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