Indian equity markets bounced back strongly on Friday, putting an end to a three-day losing streak, as investors piled into financial, telecom, and tech stocks. A drop in global crude oil prices and renewed foreign institutional inflows added to the bullish sentiment.
Market Snapshot
- The BSE Sensex surged 1,046 points (1.29%) to close at 82,408.17, after rallying as much as 1,132 points during the session.
- The NSE Nifty 50 jumped 319 points (1.29%) to finish at 25,112.40.
The market rebound was largely driven by bargain hunting, following the recent correction. Declining crude prices globally also provided relief, easing concerns over inflation and fiscal pressure.
Top Gainers & Laggards
Among the top performers on the Sensex were:
- Bharti Airtel
- Nestle India
- Mahindra & Mahindra
- Power Grid
- Reliance Industries
- NTPC
- HDFC Bank
On the flip side, Axis Bank and Maruti Suzuki were the only notable laggards in an otherwise strong session.
Global Cues & Institutional Activity
- Brent crude, the global oil benchmark, fell 1.93% to $77.33 per barrel, offering a tailwind for oil-importing countries like India.
- Foreign Institutional Investors (FIIs) bought equities worth ₹934.62 crore, while Domestic Institutional Investors (DIIs) added another ₹605.97 crore, according to exchange data.
Currency Market Update
The Indian Rupee also strengthened, closing 14 paise higher at 86.59 against the US dollar, supported by strong equity market performance, FII inflows, and declining oil prices.
Bottom Line: Markets bounced back with conviction, driven by sector-specific buying and easing global headwinds. All eyes will now be on upcoming macro data and global cues to determine if this rally has legs heading into the next week.
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