Stock Market Update: The effect of the US market closing at the top level of the day was visible in the Indian stock market on the last trading day of the week. At the beginning of the trading session, the 30-point Sensex and 50-point Nifty started trading with a green mark. On Friday morning, the Sensex opened at 60,045.75 points with a gain of 357.53 (0.60 percent). At the same time, the 50-point Nifty also started the business with a sharp rise and it opened at the level of 17,923.35 with a gain of 125.
The Sensex is still far from the record level. Earlier on 19 October 2021, the Sensex had reached a record level of 62245.43. Barring Sensex’s NTPC and PowerGrid shares, all others saw a rise in early trade. INDUSIND BANK, HINDALCO, SHREE CEMENT, HINDUSTAN UNILIVER and JSW STEEL appeared in the top gainers of Nifty on Friday morning. At the same time, BPCL, COAL INDIA, POWER GRID, NTPC and TATA MOTORS were among the top losers.
On the other hand, the US markets, which were going through heavy volatility, closed at the high of the day. The Dow Jones closed up by 193 points, and the Nasdaq gained 0.60 percent and the S&P 500 rose 0.66 percent. Fed Chairman Jerome Powell has once again spoken of raising the interest rate to rein in inflation. It is expected that on September 21, the Fed can increase by 0.7%.
Earlier on Thursday, the series of decline in the stock market for two days came to an end. At the end of the trading session, the 30-point BSE Sensex ended 659.31 points higher at 59,688.22 points. At the same time, the 50-point National Stock Exchange’s Nifty also climbed 174.35 points to close at 17,798.75. Shares of Tech Mahindra, Axis Bank, ICICI Bank, Mahindra & Mahindra, Bharti Airtel, SBI remained in gain in the Sensex.