Dalal St in Festive Mode: Nifty Surges, 28/30 Stocks on Sensex End in Green

  • Investing.com
  • Stock Market News
Dalal St in Festive Mode: Nifty Surges, 28/30 Stocks on Sensex End in Green
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Indian equity benchmark indices ended the holiday-shortened week higher amid a broad-based rally on Friday, despite the US Fed raising interest rates by 25 basis points for the first time in three years on Wednesday.

The benchmark gauge Nifty 50 ended 1.84% higher and BSE Sensex gained 1,047 points or 1.84%, trading high the whole day, supported largely by financial, consumers and oil & gas stocks.

Fed Chair Jerome Powell’s assertive comment on the US economy being strong enough and well-positioned to handle tighter monetary policy boosted confidence while confirming six more rate hikes in the year by a consolidated 1.9%, which even though was a hawkish stance, clarified the uncertainty around future rate hikes, calming down the heightened market volatility.

Also positive developments on the Russia-Ukraine peace talks, and receding crude oil prices are bringing relief to the market and boosting investor sentiment.

Additionally, FIIs have once again started to engage in buying Indian shares, with investors on Dalal Street growing richer by Rs 4 lakh crore on Thursday, adding more than Rs 19 lakh crore in the past 8 sessions.

Broader market indices also ended higher, with NIFTY Midcap 100 rising 1.38% and NIFTY Smallcap 100 up 1.23%.

Barring Nifty IT , all sectoral indices on the Nifty basket ended in green, led by Nifty Realty , up 3.13%, and Nifty Bank gained 1.9%.

HDFC (NS: HDFC ), Titan (NS: TITN ), JSW Steel (NS: JSTL ), SBI Life Insurance Company (NS: SBIL ) & RIL (NS: RELI ) were the top gainers on Nifty, rising 3.2-5.4% each, while Infosys (NS: INFY ), Cipla (NS: CIPL ), Indian Oil (NS: IOC ) Corp and HCL Tech (NS: HCLT ) were the only scrips ending in red, down 0.4-1.1%.

Only 2 stocks ended in red on the 30-scrip index Sensex.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles