Sensex rises over 250 points on increased buying of Reliance, M&M

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Despite mixed global cues and rising US Fed uncertainties, the Indian market witnessed a strong recovery, mainly reflecting the outperformance of the broader market and positive Q4 earnings.

Photograph: PTI Photo from the Diarytimes Archives

Photograph: PTI Photo from the Diarytimes Archives

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Equity benchmarks Sensex and Nifty closed higher on Friday as increased buying in key indices M&M, Reliance Industries and ITC helped the indices recover from early lows.

The 30-share BSE Sensex closed 253.31 points or 0.34 per cent higher at 73,917.03.

NSE Nifty closed at 22,466.10, up 62.25 points or 0.28 per cent.

M&M was the top gainer in the Sensex chart with a gain of 5.97 per cent, followed by JSW Steel, Ultra Cement, Kotak Bank, ITC and NTPC.

Reliance Industries closed at Rs 2,871, up 0.73 per cent.But, TCS, HCL Tech, HUL, Nestle Industries, Bajaj Finserv, Wipro and Infosys were among the losers.

“Despite mixed global cues and rising US Fed uncertainties, the Indian market witnessed a strong recovery, mainly reflecting the outperformance of the broader market and positive Q4 earnings.

“Also, some index heavyweights had good earnings, and mid-cap and small-cap stocks continued to show buying interest during the decline.In Asian markets, Shanghai and Hong Kong registered gains, while Seoul and Nikkei closed in the red. Global oil benchmark Brent crude rose 0.25 per cent to $83.48 per barrel. Equity worth Rs 776.49 crore was sold by foreign institutional investors (FIIs) on Thursday, exchange data reported.

Kumud Sharma

Kumud Sharma is the First Well-Known Female Journalist of the Journalism World of Himachal Pradesh. I am the Founder, Editor in Chief, Managing Director, Promoter of Diary Times. As a Female Journalist, With My Experience of More Than Nine Years, I Tell You Every News of Himachal Pradesh From The Ground Level With Absolutely Accurate and Correct Information, Be it the Politics of Himachal Pradesh or the Ground Reality, My Perspective On Every News Will Give You Assurance. I Assure You That Every News of Mine Will Comply With the Expertise and Fact Checking Policy.

 

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