Stock Market Today: In early trade Friday, Sensex jumped 257.41 points to 65888.98 and Nifty rose 78.25 points to 19,624.
Early trade saw benchmark market indices extend their previous day’s surge ahead of the Reserve Bank’s monetary policy review. Strong Asian market developments boosted investors’ confidence.
Sensex gainers were Bajaj Finserv, Bajaj Finance, Titan, Maruti, Tata Motors, JSW Steel, and IndusInd Bank.
Larsen & Toubro, Hindustan Unilever, Power Grid, and Bharti Airtel, lagged. In Asia, Seoul, Shanghai, and Hong Kong traded higher than Tokyo. US markets fell slightly Thursday.
Brent crude rose 0.33 percent to USD 84.35 per barrel.
Since no policy rate or stance adjustments are expected, Geojit Financial Services Chief Investment Strategist VK Vijayakumar said the Reserve Bank of India’s monetary policy review is unlikely to affect markets.
He said the US jobs data expected tonight will be more relevant for the market.
The BSE benchmark rose 405.53 points (0.62%) to 65,631.57 on Thursday. Nifty rose 109.65 points, or 0.
56 percent to 19,545.75 points.
On Thursday, FIIs sold Rs 1,864.20 crore in stocks, according to market data.
Conclusion:-
Early trade saw the Sensex and Nifty extend their previous day’s gains ahead of the Reserve Bank’s monetary policy review. Asian markets, Seoul, Shanghai, Hong Kong, and Tokyo traded positive, while Tokyo fell. US markets fell slightly Thursday. Brent rose 0.33% to USD 84.35 per barrel. Geojit Financial Services Chief Investment Strategist VK Vijayakumar said the Reserve Bank of India’s monetary policy review won’t effect markets because rates and posture won’t change. The Nifty jumped 109.65 points or 0.56 percent to 19,545.75 points, while the BSE benchmark rose 405.53 points or 0.62 percent to 65,631.57 points.
