Sensex, Nifty spurt over 1 pc, extend rally to 3rd straight day

PTI, Jul 29, 2022, 4:12 PM IST

Mumbai: Benchmark BSE Sensex and Nifty spurted over 1 percent to extend their winning run to a third day on Friday following buying in index majors Reliance Industries, Infosys, and HDFC twins.

Largely buoyant global trends also helped indices continue their gaining streak.

The 30-share BSE barometer jumped 712.46 points or 1.25 percent to settle at 57,570.25. During the day, it rallied 761.48 points or 1.33 percent to 57,619.27.

The broader NSE Nifty advanced 228.65 points or 1.35 percent to 17,158.25.

Among Sensex constituents, Tata Steel, Sun Pharma, Bajaj Finserv, IndusInd Bank, Asian Paints, Infosys, Reliance Industries, Bajaj Finance, Wipro, and HDFC were the biggest gainers.

Dr Reddy’s, Kotak Mahindra Bank, State Bank of India, ITC, and Axis Bank were the laggards.

“In India, the big positive for the market is FIIs reducing their selling substantially and even turning buyers for 8 days this month. The expected outperformance of financials has played out well. Q1 results indicate improving prospects for this segment,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

In Asia, markets in Seoul ended higher, while Tokyo, Shanghai, and Hong Kong settled lower.

Markets in Europe were trading in the green during mid-session deals. The US markets had ended higher on Thursday.

Meanwhile, international oil benchmark Brent crude jumped 1.92 percent to USD 109.2 per barrel.

Foreign institutional investors became net buyers in the capital markets as they bought shares worth Rs 1,637.69 crore on Thursday, as per exchange data.