FINAL TRADE: Nifty reclaims 22,050, Sensex gains 260 pts; BPCL, Power Grid led gains

Stock market today: Domestic equity benchmarks Nifty50 and Sensex gained on Friday, May 10 after logging their worst session in three months a day prior on concerns over the outcome of ongoing national elections and selling by foreign investors.

The blue-chip NSE Nifty 50 settled at 22,055.2, up 97.7 points, or 0.44 per cent while the leaner Sensex index, snapping the 3-day fall, rose 260.3 points, or 0.36 per cent, to settle at 72,664.47. 

Among the Nifty companies, 38 were advancing while 12 were declining. BPCL, Power Grid, NTPC, Hero MotoCorp and Eicher Motors led the gains, while TCS, Cipla, LTIMindtree, Kotak Bank and Infosys were the top decliners.

The domestically focussed Nifty SmallCap 100 and Nifty MidCap100 were up 0.69 per cent and 0.86 per cent, respectively. Meanwhile, Nifty Bank settled over 50 pts lower at 47,421.1.

Global Market

Europe's benchmark stock index hit a record high on Friday, on track for its biggest weekly gain since late January, as risk appetite was bolstered by growing bets of interest rate cuts in the region and a strong earnings season.

The pan-European STOXX 600 (.STOXX) climbed 0.8 per cent, as of 0830 GMT, with Germany's benchmark index (.GDAXI) also touching a record high.

European shares have reclaimed their record-breaking rally, with the STOXX 600 eyeing a 3 per cent weekly gain, after investors took a breather in April. The euphoria around artificial intelligence and monetary policy easing, among others, had sparked bumper gains in the region's stocks since late 2023.

For all other news related to business, politics, tech and auto, visit Zeebiz.com.