2 hrs ago
Sensex Rebounds, Nifty Gains Modestly Amid Mixed Global Cues
Indian share prices mostly went up on Friday.
The Sensex, a major group of Indian stocks, gained 362 points.
This ended its four-day run of falling prices.
The Nifty also rose, but only a little.
Metal, banking, and oil and gas companies helped lift the market.
Investors felt less worried about an immediate US Federal Reserve rate hike.
However, some investors sold shares after prices rose, limiting the gains.
Tensions in the Middle East also made investors cautious.
Foreign investors sold shares, while domestic institutions bought more shares.
The BSE Sensex rose 362.57 points, or 0.48%, to close at 76,515.43, ending a four-day losing streak.
The NSE Nifty gained 24.25 points, or 0.10%, to settle at 23,897.70 after briefly crossing 24,000.
Tata Steel, Reliance Industries, Bajaj Finance, and HDFC Bank were among the major gainers.
Bharti Airtel and HCL Technologies were among the notable laggards.
Foreign Institutional Investors sold equities worth Rs 2,345.87 crore, while Domestic Institutional Investors bought Rs 4,977.46 crore.
- Who
- Indian equity investors, Foreign Institutional Investors, Domestic Institutional Investors, and listed companies.
- What
- The BSE Sensex rebounded and the NSE Nifty posted a modest gain.
- Where
- Indian stock exchanges, including the BSE and NSE, amid gains in several Asian markets.
- When
- Friday, as described in the report.
- Why
- Reduced concerns about an imminent US Federal Reserve rate hike supported buying, while profit booking and Middle East geopolitical tensions limited gains.
Key facts
- Sensex close
- 76,515.43, up 362.57 points or 0.48%
- Nifty close
- 23,897.70, up 24.25 points or 0.10%
- Sensex intraday high
- 76,883.14
- Nifty intraday high
- 24,005.75
- Foreign Institutional Investors
- Net sellers of Rs 2,345.87 crore
- Domestic Institutional Investors
- Net buyers of Rs 4,977.46 crore
- Brent crude
- Down 0.40% at $95.14 per barrel
Quotes
Vinod Nair
Head of Research at Geojit Investments Ltd.
“Indian equities witnessed a relief rally as concerns over an imminent U.S. Fed rate hike eased. However, gains remained capped due to profit booking at higher levels and persistent geopolitical tensions in the Middle East.”
rediff.com
“Strong earnings momentum, resilient economic growth, and robust domestic demand continue to underpin investor confidence in the broader market.”
rediff.com
Sources
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