Stock Market Updates: Sensex Jumps 800 Points, Nifty Above 24,350; Eicher Rises 4%

Indian bourses saw heavy buying at open on Friday, as the benchmark Sensex surged 789 points to 79,675, while the Nifty50 climbed 0.98 per cent or 235 points to 24,352 levels.

The BSE Sensex saw only gainers at open with IT stocks taking the centre stage with the likes of Tech Mahindra, Infosys, TCS and HCL Tech gaining 2 per cent each.

The broader markets also showed strength, with the MidCap index soaring 0.89 per cent, while the SmallCap index surging by 0.90 per cent.

Sectorally all indices were trading in green with Nifty IT, Nifty Metal, Nifty Auto, and Nifty Oil and Gas leading the charts.

Global Cues

Asia-Pacific markets also saw gains on Friday, following positive momentum from Wall Street. The rise was driven by new US labour market data that improved investor sentiment and eased recession concerns, which had emerged after a significant market sell-off earlier in the week.

Japan’s Nikkei 225 advanced by 1.46 per cent, while the broader Topix index grew by 1.53 per cent.

In South Korea, the Kospi climbed 1.49 per cent, and the Kosdaq, which focuses on smaller firms, jumped 2.93 per cent. Meanwhile, Australia’s S&P/ASX 200 increased by 0.72 per cent.

In US markets overnight, the S&P 500 surged 2.3 per cent. The Dow Jones Industrial Average rose 1.76 per cent, while the Nasdaq Composite increased by 2.87 per cent.

Moreover, investors in Asia will watch out for China’s consumer price index (CPI) and producer price index (PPI) for July are anticipated to be released today.