Sensex jumps 200 points, Nifty reclaims 10,600 on positive global cues
The domestic market opened higher on Friday with the Nifty50 testing its crucial 10,600 mark, after Asian markets extended their recovery from two-month lows into a fifth day as the Wall Street market volatility gauge fell,
At 9:18 am, the S&P BSE Sensex was trading at 34,455, up 158 points, while the broader Nifty50 was ruling at 10,599, up 53.75 points.
In the broader market, the BSE Midcap and the BSE Smallcap indices outperformed, gaining 0.7 per cent each.
Market breadth, indicating the overall health of the market, was positive. On the BSE, 984 shares rose, 317 shares declined, while 37 shares remained unchanged.
Among individual stocks, ICICI Bank (up 1.2 per cent) was the leading gainer, followed by YES Bank (up 1.2 per cent), Infosys (up 1.2 per cent), and Tata Steel (up 0.9 per cent).
Among losers, Sun Pharma (down 0.6 per cent), Power Grid (down 0.6 per cent) and Hindustan Lever (0.5 per cent) shed the most.
As many as 28 companies are likely to report December quarter numbers. These include names like ITD Cementation, Sanofi, TVS Motor Company, NBCC and RAIN Industries among others.
Asian markets were trading higher. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent, though many Asian markets will be closed on Friday for the Lunar New year.
Japan’s Nikkei rose 0.5 per cent.
Measured by the MSCI’s broadest gauge of the world’s stocks covering 47 markets, global shares have reclaimed more than half of the 10.7 per cent losses incurred in their slump from a record intraday high on Jan 29 to their four-month intraday low hit a week ago.
Overnight, The Dow Jones Industrial Average rose 306.88 points, or 1.23 per cent, to 25,200.37, the S&P 500 gained 32.57 points, or 1.21 per cent, to 2,731.2 and the Nasdaq Composite added 112.82 points, or 1.58 per cent, to 7,256.43.