Larsen & Toubro, NTPC, and Maruti led early gains in the BSE Sensex and Nifty. Foreign institutional investors acquired Rs 8,147.85 crore in stocks. The world’s fastest-growing major economy is India, whose GDP grew faster than projected in September.
Positive global indications lifted equity benchmark indices early Friday. Early trade saw the 30-share BSE Sensex rise 308.52 points to 67,296.96. The Nifty reached an all-time high of 20,229.25 points, up 96.1 points.
Larsen & Toubro, NTPC, Asian Paints, Maruti, Sun Pharma, ITC, IndusInd Bank, and State Bank of India gained the most. Wipro, HCL Tech, Infosys, Tech Mahindra, Titan, and Mahindra & Mahindra lagged. FIIs acquired Rs 8,147.85 crore in stocks on Thursday, according to market data.
Government expenditure and manufacturing helped India remain the world’s fastest-growing major economy in September quarter, increasing 7.6%. Seoul, Tokyo, Shanghai, and Hong Kong quoted lower.
Currency rises versus dollar
Foreign institutional investors’ strong equity purchasing and falling crude oil prices lifted the rupee 8 paise to 83.29 against the US dollar in early trade on Friday.
Equity market gains and robust local macroeconomic indicators improved optimism. Forex traders claimed crude price fell from USD 84 to USD 80 per barrel after OPEC+ approved no new production reduction plan for 2024.
The rupee opened stronger against the dollar at 83.29 and reached 83.25 at the interbank foreign exchange. It rose 8 paise to 83.29 against the dollar.
Conclusion
On Friday morning, the BSE Sensex rose 308.52 points to 67,296.96 and the Nifty rose 96.1 points to 20,229.25, setting a new record. Larsen & Toubro, NTPC, Asian Paints, Maruti, Sun Pharma, ITC, IndusInd Bank, and SBI gained. FIIs bought Rs 8,147.85 crore in stocks on Thursday. India remained the world’s fastest-growing major economy in the September quarter, with GDP rising 7.6% faster than projected. Seoul, Tokyo, Shanghai, and Hong Kong quoted lower. Foreign institutional investors’ strong equity purchasing and falling crude oil prices lifted the rupee 8 paise to 83.29 against the US dollar in early trade on Friday.
