Stock Market
Dalal Street defies global worries as Sensex jumps over 250 points
Mumbai/IBNS: The Indian stock market reflected a broader positive sentiment with the BSE Sensex and NSE Nifty 50 trading higher on Friday afternoon, media reports said.
The Sensex climbed over 250 points while the Nifty traded above the 23,750 mark.
IT stocks led the gains, with Infosys and Tech Mahindra gaining nearly 2 percent each, followed by a rally in media and telecom stocks.
FMCG, auto, pharma and healthcare sectors also reflected positive momentum as the market traded in the green for the third consecutive session, defying a falling rupee and a surge in crude oil prices.
Market experts said sustained buying by foreign institutional investors and optimism over strong corporate earnings supported investor sentiment despite global uncertainty.
Positive cues from Asian markets and hopes of easing inflationary pressure in the coming months also boosted confidence among traders.
Investors, however, remained cautious amid ongoing geopolitical tensions in West Asia and concerns over rising energy costs, which could impact market volatility in the near term.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
