News – Stock market opened with gains; Sensex rose by 900 points, Nifty crossed 24350

The domestic stock market witnessed a strong rise on Wednesday following positive global cues. The Sensex opened with a gain of over 1,000 points on Friday while the Nifty rose above the 24,350 level.
US labor market data eased concerns of a slowdown in the world's largest economy. Following this, buying was seen across all sectors globally. Meanwhile, the market capitalization of all listed companies on the BSE rose by Rs 4.4 lakh crore to Rs 450.15 lakh crore.
All 30 Sensex stocks were up, with Tech Mahindra, HCL Tech, Tata Motors, Mahindra & Mahindra, Infosys and TCS gaining up to 2.5 per cent.
After Thursday's fall, the 30-share BSE Sensex gained 1,098.02 points to reach 79,984.24. On the other hand, the Nifty gained 270.35 points to trade at 24,387.35.
Asian markets saw sharp gains in Tokyo, Seoul, Shanghai and Hong Kong. US markets also closed with a good gain on Thursday. According to VK Vijayakumar, Chief Investment Strategist of Geojit Financial Services, the return of gains in the US market indicates that the fear of recession has reduced a bit. The US labour market data has been better than expected. Due to which the fear of recession in the market has reduced a bit.
Foreign institutional investors (FIIs) sold shares worth Rs 2,626 crore on Thursday, according to exchange data. Global oil benchmark Brent crude strengthened 0.14% to Rs 79.27 per barrel.

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