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NEW DELHI: Equity indices jumped on Friday with benchmark BSE sensex closing over 550 points led by metal, FMCG and financial stocks. The 30-share BSE index surged 568 points or 1.17 per cent to close at 49,008; while the broader NSE Nifty settled 182 points or 1.27 per cent to close at 14,507. Top gainers in the sensex pack included Bajaj Finserv, Titan, Asian Paints, HUL, Bharti Airtel and Bajaj Auto rising as much as 4.38 per cent. While PowerGrid, IndusInd Bank, ITC and TCS were the only losers falling up to 1.20 per cent. On the NSE platform, sub-indices Nifty Metal, FMCG and Financial Services gained as much as 3.68 per cent. "There is some rebalancing in portfolios ahead of the new financial year (in India) ... The US jobs data has also had something to do with reviving risk appetite," Anand James, chief market strategist at Geojit Financial Services told news agency Reuters. US labor department data showed claims for unemployment benefits dropped to a one-year low last week, a sign that the US economy is on the verge of stronger growth as the public health situation improves. However, there are worries lingering due to the emerging of new virus strains and their impact on economic growth, James added. India's daily Covid-19 cases hit a five-month high on Thursday. The country this week reported a new variant of the coronavirus, termed as "double mutant" in more than 200 samples in the hardest-hit Maharashtra. Globally, Asian shares rebounded on optimism about a global economic recovery. US equities recovered from the day's low and finished with modest gains mainly supported by improved job data and revised GDP figures for the December quarter. Meanwhile, foreign institutional investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 3,383.60 crore, as per exchange data. (With inputs from agencies) Source link Read the full article

(Representative image)MUMBAI: Equity benchmark sensex jumped 269 points on Thursday, led by gains in index heavyweight Reliance Industries, ICICI Bank and Kotak Bank amid hopes of fresh government stimulus to support the economy. The 30-share BSE sensex ended 268.95 points, or 0.71 per cent, higher at 38,140.47. Similarly, the NSE Nifty advanced 82.85 points, or 0.74 per cent, to close at 11,215.45. Shares of Reliance Industries climbed around 3 per cent to hit a record closing high of Rs 2,060.65. SBI, ICICI Bank, Tech Mahindra, ITC and Kotak Bank were among the other winners. On the other hand, Axis Bank, HUL, Infosys, TCS and L&T finished in the red. According to Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares, Indian markets started off on a positive note but with underlying caution as its Asian peers traded mixed as investors remained concerned over US-China tensions. "During the noon session markets strengthened as domestic sentiments were boosted after news of India working on offering production-linked incentives for up to five sectors to boost domestic manufacturing," he said. Some support also came with the chief economic advisor's statement that the government may announce more fiscal measures to boost demand, Solanki added. Bourses in Shanghai, Seoul and Tokyo ended in the red, while Hong Kong closed higher. Stock exchanges in Europe were trading on a positive note in early deals. Read the full article