Business / Sensex jumps 835 points, Nifty reclaims 11,000

Zoom News : Sep 25, 2020, 05:26 PM
Mumbai: The BSE Sensex and the Nifty witnessed strong rebound on Friday, breaking their six-day losing streak as buying was visible across the sector. The Sensex jumped 835 points or 2.28% to close at 37,388.66 while the NSE Nifty settled 2.26% or 244.70 points higher at 11.050.25. Although buyng was visible across the sectors auto and IT stocks outperformed today with their respective sub-indices on the NSE gaining 3.38% and 3.46% respectively.

Among bluechips, HCL Tech was the biggest gainer, up 5.42 per cent followed by Bharti Airtel, Cipla, IndusInd Bank, TCS, Adani Ports, Bajaj Finance and Eicher Motors that added 3-5 per cent. SBI Life Insurance, BPCL and Kotak Mahindra Bank were among a few names that witnessed selling pressure.

Broader market indices also rebounded with Nifty Smallcap advancing 1.84 per cent and Nifty Midcap climbing 1.60 per cent. Among sectoral indices, Nifty IT and Nifty Pharma were top gainers.

Broader markets outperformed benchmark indices today; the BSE Midcap index gained 2.90% while the BSE Smallcap index settled 2.31% higher.

Market breadth was strongly in favour of gainers today. Out of the 1,609 stocks traded on the NSE, 1,357 stocks ended in the green while 252 shares closed with losses.

Investors' wealth surged by around Rs 3.5 lakh crore today as market capitalisation of all BSE-listed shares stood at Rs 152.26 lakh crore as compared to Rs 148.76 lakh crore yesterday. Worth mentioning here is that investors has lost Rs 11.24 lakh crore during the last six-day market rout.

The rupee also ended higher against the US dollar today. It strengthened by 28 paise to settle at 73.61 against the USD. At the interbank forex market, the domestic unit opened at 73.76 against the US dollar, then gained further ground to finally close at 73.61, registering a rise of 28 paise over its previous close. During the session, the local unit witnessed an intra-day high of 73.56 and a low of 73.77 against the US dollar.