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Share Market Update: Sensex jumps over 225 points, Nifty still above 12,200

Extending Its Gains For The Second Session, Market Benchmark Sensex Rose 227 Points On Friday, Tracking Rally In Banking Stocks Amid Recovery In Global Equities.

News Nation Bureau | Edited By : Assem Sharma | Updated on: 24 Jan 2020, 04:46:52 PM
Closing Bell: Sensex jumps over 225 points, Nifty still above 12,200

Closing Bell: Sensex jumps over 225 points, Nifty still above 12,200 (Photo Credit: file photo )

New Delhi:

Extending its gains for the second session, market benchmark Sensex rose 227 points on Friday, tracking rally in banking stocks amid recovery in global equities. After opening on a weak note, the 30-share BSE index settled 226.79 points, or 0.55 per cent, higher at 41,613.19 -- hitting an intra-day high of 41,697.03 and a low of 41,275.60.

Likewise, the broader NSE Nifty closed 67.90 points, or 0.56 per cent, up at 12,248.25. Ultratech Cement was the top gainer in the Sensex pack, advancing 2.44 per cent, followed by Tech Mahindra, Axis Bank, Titan, Kotak Bank, ICICI Bank and Bajaj Finance. On the other hand, PowerGrid, IndusInd Bank, Sun Pharma, TCS, RIL and Infosys, Maruti and HDFC Bank ended in the red.

According to traders, a rally in financial stocks ahead of the Union Budget is supporting domestic stocks. Further, recovery in global markets after the World Health Organisation designated coronavirus infection an emergency for China, but not yet for the rest of the world, also buoyed benchmarks.

Bourses in Hong Kong and Japan ended on a positive note, while markets in China, Taiwan and South Korea were closed for a holiday on Friday.

In the previous session, Sensex settled 271.02 points, or 0.66 per cent, higher at 41,386.40. Likewise, the Nifty closed 73.45 points, or 0.61 per cent, down at 12,180.35.

Meanwhile, on a net basis, foreign institutional investors bought equities worth Rs 1,352.13 crore, while domestic institutional investors offloaded shares worth Rs 984.56 crore on Thursday, data available with stock exchanges showed.

European markets were also trading higher in their early sessions. Brent crude oil futures rose 0.15 per cent to USD 62.13 per barrel. The rupee depreciated 6 paise to 71.32 per US dollar (intra-day).

Bullion Market Closing

Gold prices jumped Rs 96 to Rs 40,780 per 10 gram in the national capital on Friday due to rupee depreciation, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 40,684 per 10 gram. Silver prices also climbed Rs 238 to Rs 47,277 per kg from previous close of Rs 47,039 per kg.

“Spot gold for 24 karat in Delhi was trading higher by Rs 96 with rupee depreciation. The spot rupee was trading around 3 paise weaker against the dollar during the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In early trade on Friday, the rupee declined by 5 paise to 71.31 against the US dollar as spread of a deadly new virus from China kept investors edgy. In the international market, gold and silver were trading flat at USD 1,558 per ounce and USD 17.80 per ounce, respectively.

(With inputs from PTI) 

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First Published : 24 Jan 2020, 03:51:06 PM