Sun Pharma, Bajaj Finserv, Titan, Bajaj Finance, IndusInd Bank, Reliance Industries, Dr. Reddy’s and Tata Steel were the biggest gainers in early trading
Sun Pharma, Bajaj Finserv, Titan, Bajaj Finance, IndusInd Bank, Reliance Industries, Dr. Reddy’s and Tata Steel were the biggest gainers in early trading
The Sensex rebounded in early trading on Friday after falling sharply the day before, jumping above 635 points along with the rally in Asian markets and buying of major index Reliance Industries.
The 30-part BSE Sensex traded 635.43 points higher at 53,565.74. The broader NSE Nifty rose 186.4 points to 15,994.40.
Among the Sensex companies were Sun Pharma, Bajaj Finserv, Titan, Bajaj Finance, IndusInd Bank, Reliance Industries, Dr. Reddy’s and Tata Steel the biggest gainers in early trading. In contrast, NTPC and TCS were the laggards.
Markets in Asia traded in the green with Tokyo, Hong Kong, Seoul and Shanghai all trading significantly higher.
“Asian stocks rose on a roller coaster ride Friday amid a lull in global markets,” said Deepak Jasani, head of retail research, HDFC Securities.
The stock exchanges in the US closed on Thursday with mixed notes.
Meanwhile, international oil benchmark Brent rose 1.57% to $109.14 a barrel.
The Sensex fell 1,158.08 points, or 2.14%, to end Thursday at 52,930.31. The NSE Nifty fell 359.10 points, or 2.22%, to settle at 15,808.
Overseas institutional investors continued their selling spree, selling shares worth Rs 5,255.75 crore on Thursday, according to stock market data.
Prashanth Tapse, Vice President (Research), Mehta Equities Ltd, said investors will remain cautious after CPI inflation galloped to an 8-year high of 7.79%.
India’s headline inflation galloped for the seventh straight month, hitting an 8-year high of 7.79% in April on rising food and fuel prices, increasing the likelihood of an RBI rate hike early next month to tame prices.
