• Source:JND
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Stock Market:  Domestic equity indices on Friday recorded their best session since early June, snapping a two-week losing streak and allaying concerns about credit risk from Adani Group exposure.  The Sensex rallied 2.54% to hit the 79,000 mark, aided by gains across sectors and value-based buying at lower levels. Strong buying by domestic institutional investors and a firm trend in US markets also aided the indices, traders said.

Sensex, the index of the top 30 shares on BSE, jumped 1,961.32 points, or 2.54%, to close at 79,117.11. During trading hours, it rose as much as 2,062.4 points, or 2.67%, to hit 79,218.19. While, Nifty 50, the index of top 50 shares on NSE, rose 557.35 points, or 2.39%, to settle at 23,907.25.

All 30 Sensex companies closed in the green following heavy buying in blue-chip companies and IT and tech stocks. Reliance Industries, State Bank of India, Titan, ITC, Infosys, Larsen & Toubro, Tata Consultancy Services, and Bajaj Finance were the top gainers.

Adani Group Stocks Rebound

Stocks of most listed companies of the Adani Group rose, recovering from the previous day's sharp fall. Billionaire industrialist Gautam Adani was accused of alleged bribery and fraud in the US.

Ambuja Cements rose 3.50%, ACC 3.17%, Adani Enterprises 2.16%, Adani Ports (2.05%), Adani Total Gas (1.18%), and NDTV (0.65%) on the BSE.
According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 5,320.68 crore on Thursday, while domestic institutional investors (DIIs) bought shares worth Rs 4,200.16 crore.

In Asian markets, Seoul and Tokyo closed in the positive territory, and Hong Kong and Shangai's markets traded low. Most equity markets in Europe were down. Global oil benchmark Brent crude rose 0.19% to $74.37 a barrel. On Thursday, the BSE benchmark closed 422.59 points, or 0.54%, lower at 77,155.79. The Nifty fell 168.60 points, or 0.72%, to close at 23,349.90.

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Rupee recovers from all-time low

The rupee on Friday recovered from its all-time low and closed 6 paise higher at 84.44 (provisional) against the US dollar, supported by positive domestic equities.

The rupee opened at 84.48 at the interbank foreign exchange market and touched an intraday low of 84.50 against the dollar. At the close of trading, the rupee closed at 84.44 (provisional) against the dollar, showing a rise of 6 paise over its previous close.

Also Read: NTPC Green Energy IPO Fully Subscribed On Final Day Of Bidding; Know Bidding Rates And Latest GMP

(With Agencies Inputs

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