Following 4 Days Of Decline, Markets Pulls Strongly; Sensex Gains 599 Points

Stock markets recovered from early lows to close higher on Friday, snapping the four-day losing streak thanks to strong bargain buying in banking and auto stocks.

The 30-share BSE Sensex soared 599.34 points or 0.83 percent to 73,088.33. The index fell 672.53 points, or 0.92 percent, to a low of 71,816.46 in early trade. However, the index rebounded in the second half due to value-buying in banking stocks.

The NSE Nifty advanced 151.15 points or 0.69 percent to 22,147. The broader declined to a low of 21,777.65 in early trading before recovering its losses to finish in the positive.

Bajaj Finance, Mahindra & Mahindra, Maruti, Suzuki, HDFC Bank, Jindal Steel & Power, Zomato, Grasim Industries, HAL, Wipro, Bharti Airtel, and Trent were the top gainers.

Among the laggards were Bajaj Auto, ICICI Prudential, United Spirits, Berger Paints, Jio Financial Serv., and TVS Motor Company.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong all concluded in the negative territory.

European stock markets were trading lower.

US markets closed mostly lower on Thursday.

Brent crude gained 0.55 percent to USD 87.62 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 4,260.33 crore on Thursday.

On Thursday, the BSE benchmark dipped 454.69 points or 0.62 percent to 72,488.99, while the NSE Nifty sank 152.05 points or 0.69 percent to 21,995.85.

Also read: UAE’s Foreign Minister Calls His Iran Counterpart To Discuss Middle East Tensions