Stock markets extend rally to third day; Bajaj Finance surges over 8 per cent
Bajaj Finserv, Mahindra & Mahindra, Adani Ports, Tata Steel, Reliance Industries, Bharat Electronics and Titan were also among the winners
Benchmark stock indices Sensex and Nifty closed with gains for the third consecutive day on Friday, tracking a sharp rally in Bajaj Finance and foreign fund inflows.
The 30-share BSE Sensex climbed 166.49 points, or 0.21 per cent, to settle at a more than three-week high of 78,094.64 with 16 of its constituents ending higher and 14 settling with losses. During the day, the index jumped 344.1 points, or 0.44 per cent, to 78,272.25.
The 50-share NSE Nifty rose by 66.45 points, or 0.27 per cent, to end at a three-week high of 24,383.60.
From the Sensex pack, Bajaj Finance jumped 8.11 per cent after the firm on Thursday reported a 28 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 6,081 crore for the June quarter of FY27, driven by growth in core income and improvement in asset quality.
Bajaj Finserv, Mahindra & Mahindra, Adani Ports, Tata Steel, Reliance Industries, Bharat Electronics and Titan were also among the winners.
Tata Consultancy Services, Eternal, Infosys, ITC and InterGlobe Aviation were among the major laggards.
Foreign Institutional Investors (FIIs) bought equities worth Rs 3,623.51 crore on Thursday, according to exchange data.
“Positive momentum continued, although some profit booking emerged at higher levels as caution persisted amid elevated yields and potential rate-hike concerns. The sustainability of the recovery will depend largely on the ongoing earnings season, which is currently outperforming forecasts, and on a reduction in global risks,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
The domestic IT index witnessed profit booking following its recent rally, he added.
Brent crude, the global oil benchmark, climbed 0.45 per cent to USD 89.43 per barrel.
In Asian markets, South Korea’s KOSPI rebounded sharply and jumped 17.91 per cent. Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index also ended in positive territory.
Markets in Europe were trading in the green. US markets ended significantly higher on Thursday.
On Thursday, the Sensex ended 273.55 points, or 0.35 per cent, higher at 77,928.15. The Nifty went up by 66.95 points, or 0.28 per cent, to end at 24,317.15.
