The frontline indices traded with strong gains in mid-afternoon trade. The Nifty traded above the 24,750 mark after hitting the day’s low of 24,295.55 in mid-morning trade. Private bank shares witnessed buying demand for the fourth consecutive trading session. Trading was volatile due to the weekly F&O series expiry today.
The bulls made a strong comeback on the Street, with the benchmark indices Nifty and Sensex surging nearly 2 percent each, propelling investor wealth by a staggering Rs 8.5 lakh crore in just one day. A confluence of factors—including the positive outcome of the Maharashtra elections, encouraging signals from Asian and US markets, and a welcome dip in foreign outflows—sparked widespread buying across the bourses.
Indian benchmark indices BSE Sensex and Nifty 50 were trading higher on Friday.
At 2 PM, the BSE Sensex was at 78,657, up 1,501 points, or 1.95 per cent, while the Nifty 50 was at 23,793, up 443 points, or 1.9 per cent.
After opening bell, 20 out of the 30 stocks on the BSE Sensex were trading higher, with gains of up to 1.17 per cent, led by SBI, followed by ICICI Bank, Tata Motors, IndusInd Bank, and Tech Mahindra. Among the top drags were Adani Ports & SEZ (down 3.28 per cent), followed by TCS, ITC, Titan, and Nestle India.
A day after snapping their multi-day losing streak, Indian stock market benchmarks- the Sensex and the Nifty 50- resumed their downward march on Thursday, November 21, amid weak global cues.
The domestic market witnessed a broad selloff as mid and small-cap segments also suffered losses.
Muhurat Trading is a special one-hour trading session that investors can take part in on the festive day of Diwali. During the special trading session, only one hour is spent conducting business on the BSE and NSE. The market assets that investors can buy and sell include stocks, futures, options, and other assets.
Hyundai Motor India Ltd. is set to hit the bourses with its IPO on Oct. 15. The Creta-maker is looking to raise Rs 27,870 crore making it the biggest IPO in India, surpassing Life Insurance Corp. of India’s Rs 21,000-crore IPO in 2022. This will be the largest IPO globally in 2024 so far and also make it the first automaker to list in India in over two decades.