Mumbai:
The domestic stock market closed for the fifth consecutive day on Friday on the basis of buying of foreign funds and gains in bank shares. The major index Sensex rose by 557 points and the Nifty 160 points. The BSE’s 30 -share index Sensex jumped 557.45 points, or 0.73 percent, closed at 76,905.51 points. At one time during trading, it rose 693.88 points to 77,041.94. Similarly, NSE’s standard index Nifty climbed 159.75 points i.e. 0.69 percent to close at 23,350.40 points.
Experts said that the US Federal Reserve has said to cut interest rates twice this year. Due to this, optimism in the domestic market has again awakened. The Sensex shares were in profit among NTPC, Bajaj Finance, Kotak Mahindra Bank, Axis Bank, Nestle, Larsen & Tubro, Tata Motors, ICICI Bank, Power Grid and Zomato. On the other hand, Infosys, Tata Steel, Mahindra & Mahindra, Titan and Bajaj Finserv declined.
According to the stock market data, foreign institutional investors (FIIs) on Thursday bought shares worth Rs 3,239.14 crore. Vinod Nair, head of research of Geojit Financial Services, said, “The business week ended with a continuous improvement in domestic markets. Decreased risk-free rates, improvement in dollar index and foreign investment in emerging markets created a boom. ”
He said that this is once again seeing optimistic view in the domestic market. South Korea’s Korea closed with an edge in other markets in Asia, while Nikki of Japan, Shanghai Composite of China and Hong Kong’s Hangseng fell and closed. European markets were trading in a negative area. The US markets closed down slightly on Thursday.
Global oil standard brent crude fell 0.21 percent to $ 71.85 per barrel. The BSE Sensex rose 899.01 points to 76,348.06 points on Thursday and NSE Nifty rose 283.05 points to 23,190.65 points.