After a huge fall in last session, stock market bounce back, Sensex jumps over 900 points, top gainers are…
Benchmark indices Sensex and Nifty saw a sharp rebound on Friday, after buyers showed interest in blue-chip IT stocks and consumer goods giant ITC.
After opening on a flat note, the 30-share BSE Sensex rallied to 953.18 points to reach 81,905.17 during late morning trade. The NSE Nifty also grew 299.35 points up to 24,909.05.
From the Sensex firms, ITC, Eternal, Power Grid, Tech Mahindra, Infosys and HCL Tech were among the biggest gainers. Sun Pharma emerged as the only laggard.
In Asian markets, Japan’s Nikkei 225 index and Hong Kong’s Hang Seng were trading in the positive territory, while South Korea’s Kospi and Shanghai’s SSE Composite index quoted lower. US markets ended largely flat on Thursday.
“The big FII selling on 20th and 22nd of this month indicates that the FIIs may again turn sellers if the global environment turns unfavourable,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.
The silver lining was India’s strong macros particularly the resilient growth and declining inflation and interest rates, he said. Global oil benchmark Brent crude dipped 0.57 per cent to USD 64.07 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,045.36 crore on Thursday, according to exchange data. Top gainers in the opening session included Grasim, Trent, ITC, BEL, and SBI Life. On the other hand, top losers were Sun Pharma, Dr Reddy, M&M, Titan, ONGC, and Cipla.
In stock-specific updates, Grasim reported a 9.2 per cent year-on-year rise in Q4 FY25 profit to Rs 1,495.9 crore. Sun Pharma’s revenue for FY25 went up by 8.4 per cent to Rs 52,578.4 crore.
On the institutional front, foreign institutional investors (FIIs) sold equities worth Rs 5,045 crore in the cash market on May 22, while domestic institutional investors (DIIs) bought equities worth Rs 3,715 crore.
On Thursday, the BSE Sensex tanked 644.64 points or 0.79 per cent to settle at 80,951.99. The Nifty tumbled 203.75 points or 0.82 percent to 24,609.70.
(With Inputs From Agencies)
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