For the second day, the BSE Sensex and Nifty rose. Tech Mahindra, Sun Pharma, ICICI Bank, Titan, Mahindra & Mahindra, and Sun Pharma gained heavily. The rupee fell 4 paise against the dollar…
Global markets rallied Friday, sending equity benchmark indices up for the second day. Early activity saw the 30-share BSE Sensex rise 414.06 points to 64,494.96. The Nifty rose 125.5 points to 19,258.75.
Tata Motors rose over 2% after reporting a combined net profit of Rs 3,783 crore for the September quarter, driven by Jaguar Land Rover’s strong performance.
Other winners included Tech Mahindra, ICICI Bank, Titan, Mahindra & Mahindra, and Sun Pharma. Laggards included Tata Steel, NTPC, Asian Paints, and Kotak Mahindra Bank. In Asia, Seoul, Shanghai, and Hong Kong gained. The US markets concluded Thursday with big gains.
Brent rose 0.14 percent to USD 86.97 per barrel. According to exchange statistics, FIIs sold Rs 1,261.19 crore in shares on Thursday.
Rupee drops versus dollar
The rupee fell 4 paise to 83.26 against the US dollar in the morning session on Friday due to a strong dollar and foreign fund outflows.
Forex traders noted domestic stocks’ bullish trend kept the local unit at lower levels and limited the fall. The rupee opened at 83.22 and fell 4 paise to 83.26 versus the US dollar at the interbank forex exchange.
Conclusion
The BSE Sensex rose 414.06 points to 64,494.96 and the Nifty 125.5 points to 19,258.75 on Friday for the second straight day. Tata Steel, NTPC, Asian Paints, and Kotak Mahindra Bank lagged, while Tata Motors, Tech Mahindra, ICICI Bank, Titan, Mahindra & Mahindra, and Sun Pharma gained. Seoul, Shanghai, and Hong Kong gained, while US markets ended strongly. FIIs sold capital markets as Brent crude increased 0.14 percent to USD 86.97 a barrel. Due to a strong US dollar and foreign fund outflows, the rupee fell 4 paise to 83.26. Forex traders noted domestic stocks’ bullish trend kept the local unit at lower levels and limited the fall.
