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New Delhi | Jagran Business Desk: Indian equity benchmarks witnessed a sharp recovery in the early trade on Friday after a sharp decline in the previous trade tracking positive trends from Asian markets. Also, the jump in index major Reliance Industries helped the benchmarks bounce back.
The 30-share BSE benchmark Sensex rallied 906.98 points to 53,699.21, while the broader NSE Nifty jumped 308 points to 16,117.40. All the Sensex firms were trading in the green in early trade, with Tata Steel, Dr Reddy’s, IndusInd Bank, State Bank of India, Nestle, Hindustan Unilever, Sun Pharma and Reliance Industries emerging as the biggest gainers.
The BSE benchmark dived 1,416.30 points or 2.61 per cent to settle at 52,792.23 on Thursday. The NSE Nifty tanked 430.90 points or 2.65 per cent to end at 15,809.40. “Indices are set to trade with firm gains amid positive signals from its Asian peers,” said Mohit Nigam, Head – PMS, Hem Securities.
In India, all 50 stocks on the Nifty 50 index were trading higher. Nifty’s auto index and metal index were up 2.5 per cent and 3.4 per cent, respectively. Truck and bus maker Ashok Leyland jumped more than 6% after the company late on Thursday reported an over three-fold increase in profit for the March quarter.
Meanwhile, Asian markets in Hong Kong, Shanghai and Tokyo were trading in the green. Stock markets in the US had ended lower on Thursday. Asian peers also advanced, with MSCI’s broadest index of Asia-Pacific shares outside Japan gaining 1.5 per cent after China cut a key lending rate to support an economy dented by its zero-COVID policy.
International oil benchmark Brent crude declined 0.89 per cent to USD 111.04 per barrel. Foreign institutional investors offloaded shares worth Rs 4,899.92 crore on Thursday, as per stock exchange data.
(With Agencies Inputs)
Posted By:
Talibuddin Khan
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