Market posted strong gains, most of Adani Group stocks recover
At close, the Sensex was up 1,961.32 points or 2.54% at 79,117.11, and the Nifty was up 557.35 points or 2.39% at 23,907.25.
Despite a strong rebound in the domestic currency and continued decline in crude oil prices, the key equity indices — S&P BSE Sensex and Nifty50 — traded on a negative note during the afternoon session of the trade on Friday.
The rupee bounced back 30 paise to Rs 72.71 a US dollar from its previous close of 73. The benchmark Brent Crude also slipped below the $71 a barrel mark.
Consequently, export-oriented stock S&P BSE IT fell by 1.37 per cent. Metal, Realty and energy also came under heavy selling pressure.
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However, the index pivotal — finance and banking — stocks held the positive territory.
The market breadth was positive with 1,171 advances and 1,138 declines even though the equity indices traded with a negative bias.
“This is owing to the lower level buying in quality small and mid-cap stocks by investors,” Astha Jain, Senior Analyst, Hem Securities, told IANS.
At 1.58 p.m., the S&P BSE Sensex traded 101.14 points down at 35,136.54. It had opened at 35,258.13 from its previous close of 35,237.68.
It touched an intra-day high of 35,287.29 and a low of 35,011.23.
The NSE Nifty50 traded at 10,574.40, down 24 points or 0.23 per cent. It opened at 10,614.70 from its previous close of 10,598.40.
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