Share market news: Encouraged by the domestic inflation data, there was a significant rise in the domestic stock markets on Friday due to heavy buying in the shares of telecom companies. Standard index Sensex jumped 843 points and Nifty jumped 219 points. A lot of ups and downs were seen in the domestic stock markets. There was a significant decline in morning trading but later a big jump was recorded.
BSE’s Sensex based on 30 shares had fallen by 1,207.14 points in the initial session. But due to buying at lower levels, it made a strong comeback and jumped 843.16 points or 1.04 percent to close at 82,133.12. At one point during trading, it had increased by 923.96 points to reach 82,213.92.ALSO READ: Heavy fall in Sensex, bad condition of Nifty too, know why stock market crashed
National Stock Exchange (NSE) index Nifty also closed at 24,768.30, up 219.60 points or 0.89 percent. However, at one time during trading, a fall of 367.9 points was seen.
There were fluctuations in the shares of these major companies: Among the companies included in the Sensex group, Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever, Titan, UltraTech Cement, HCL Technologies and Power Grid were the biggest gainers. On the other hand, shares of Tata Steel, IndusInd Bank, JSW Steel and Bajaj Finserv declined.
According to analysts, the data of retail inflation falling to 5.48 percent in November has raised the possibility of rate cut in the next monetary review, which strengthened the sentiment of investors. Vinod Nair, Head of Research, Geojit Financial Services, said that the domestic market made a strong comeback from the day’s low and the index was on a bullish path led by the big companies.
The sector outperformed on the back of a gradual decline in food inflation and the decision by FMCG companies to raise prices. He said the market expects an increase in consumer spending during festivals and year-end holidays. Apart from this, the expectation of increased spending in America is pushing the IT sector forward.
In Asian and American markets: In other markets of Asia, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng were in decline while South Korea’s Kospi was on the rise. European markets were trading briskly. US markets were in decline on Thursday.ALSO READ: Slight rise in stock market due to cautious buying by investors
FIIs sold on Thursday: According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 3,560.01 crore on Thursday. Global oil benchmark Brent crude rose 0.54 percent to $73.77 per barrel. On Thursday, BSE Sensex fell 236.18 points to 81,289.96 and NSE Nifty fell 93.10 points to 24,548.70. (Language)
Edited by: Ravindra Gupta
