Stock market: Strong rally in the market, Sensex surged past 79,000, Nifty also surged 557 points.
Stock market: The local stock market regained momentum on Friday and the BSE Sensex gained 1,961.32 points to regain the 79,000 level. The market was supported by all-round buying at lower levels. The market was also bullish due to strong buying by domestic institutional investors and a strong trend in the US market. The 30-share BSE Sensex ended up 1,961.32 points, or 2.54 per cent, at 79,117.11. It had risen as high as 2,062.4 points during one-time trade. The National Stock Exchange's Nifty also closed up 557.35 points, or 2.39 per cent, at 23,907.25. All thirty stocks on the Sensex were in gains. The market was supported by good buying in stocks of key companies such as Reliance Industries, IT and Technology. Among the Sensex stocks, State Bank of India, Tata Consultancy Services, Titan, ITC, Infosys, Larsen and Toubro, Reliance Industries and Bajaj Finance were top gainers. Most of Adani Group's listed companies were in profit. Shares of conglomerates fell sharply on Thursday following allegations that Gautam Adani and others were involved in a bribery case in the US. On the BSE, Ambuja Cement rose 3.50 percent, ACC 3.17 percent, Adani Enterprises 2.16 percent, Adani Ports 2.05 percent, Adani Total Gas 1.18 percent and NDTV 0.65 percent. Foreign institutional investors (FIIs) sold shares worth Rs 5,320.68 crore on Thursday, while domestic institutional investors (DIIs) bought shares worth Rs 4,200.16 crore, according to stock market data. Elsewhere in Asia, South Korea's KOSPI and Japan's Nikkei were in gains, while China's Shanghai Composite and Hong Kong's Hang Seng were in losses. In the afternoon, major markets in Europe were down. US markets ended higher on Thursday. Global oil benchmark Brent crude was up 0.19 percent at US$74.37 a barrel. BSE Sensex lost 422.59 points and NSE Nifty lost 168.60 points on Thursday. The post Share market: Strong rally in the market, Sensex jumps above 79,000, Nifty also up 557 points appeared first on Prabhat Khabar.
