Sensex surges over 900 points while Nifty around 16,120 in early trade
- Sensex rose 906.98 points to 53,699.21
- Nifty gained 308 points to 16,117.40
- Brent crude fell 0.89% to USD 111.04 per barrel
Following a severe loss in the previous trading, equity benchmarks recovered sharply on Friday, with the Sensex gaining 907 points in early trade, reflecting bullish patterns from Asian markets. In addition, the rise in index major Reliance Industries aided the benchmarks' recovery.
The 30-share BSE Sensex rose 906.98 points to 53,699.21. The NSE Nifty gained 308 points to 16,117.40.
"Indices are set to trade with firm gains amid positive signals from its Asian peers," said Mohit Nigam, Head - PMS, Hem Securities.
In early trade, all Sensex companies were trading in the green, with Tata Steel, Dr Reddy's, IndusInd Bank, State Bank of India, Nestle, Hindustan Unilever, Sun Pharma, and Reliance Industries leading the way.
The broader indices were trading in green with the BSE Midcap index rising 1.73%, while the Small cap index was up by 1.75%. The top gaining sectoral indices on the BSE were Realty up by 3.49%, Metal up by 3.27%, Auto up by 2.92%, Industrials up by 2.62%, Capital Goods up by 2.42%, while there was no loser on the BSE sectoral front.
On Thursday, the BSE benchmark fell 1,416.30 points, or 2.61%, to 52,792.23. The NSE Nifty dropped 430.90 points, or 2.65%, to 15,809.40.
According to stock exchange statistics, foreign institutional investors sold shares worth Rs 4,899.92 crore on Thursday.
Brent crude, the international oil standard, fell 0.89% to USD 111.04 per barrel. In early trade on Friday, the rupee rose 7 paise to 77.49 against the US dollar.