Benchmark Sensex reclaims 79K mark, Nifty surges 557 pts
Mumbai: Benchmark equity indices rebounded sharply on Friday, with the Sensex climbing 2.54 per cent to reclaim the 79,000 level, driven by across-the-board rally and value buying at lower levels.
Strong buying by domestic institutional investors and a firm trend in the US markets also bolstered market sentiment, traders said.
The BSE benchmark Sensex jumped 1,961.32 points or 2.54 per cent to settle at 79,117.11. During the day, it surged 2,062.4 points or 2.67 per cent to 79,218.19.
A total of 2,446 stocks advanced, while 1,475 declined and 120 remained unchanged on the BSE.
The NSE Nifty soared 557.35 points or 2.39 per cent to 23,907.25.
All the 30 Sensex firms ended in the green.
On the weekly front, the BSE benchmark zoomed 1,536.8 points or 1.98 per cent, and the Nifty climbed 374.55 points or 1.59 per cent.
The market capitalisation of BSE-listed firms surged Rs 7,32,144.04 crore to Rs 4,32,71,052.05 crore ($5.12 trillion).
State Bank of India, Tata Consultancy Services, Titan, ITC, Infosys, Larsen & Toubro, Reliance Industries and Bajaj Finance were the biggest gainers.
Buying emerged at lower levels in blue-chip stocks, causing several index heavy-weights, including Reliance to gain significantly, Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.
Hectic buying in blue chip counters like Reliance Industries, IT and teck shares also fuelled the rally in equities.
The BSE midcap gauge jumped 1.26 per cent, and smallcap index climbed 0.90 per cent.
All sectoral indices ended higher. The BSE Focused IT surged 3.26 per cent, tech (3.18 per cent), IT jumped 3.14 per cent, capital goods (2.36 per cent), energy (2.19 per cent), FMCG (2.18 per cent) and consumer durables (2.17 per cent).
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,320.68 crore on Thursday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 4,200.16 crore, according to exchange data.
