BSE Sensex Breaches 84,000-Mark, Rides on Global Surge Amid Rate Cut By Federal Reserve

New Delhi: Sensex and Nifty continued with upward trend after touching fresh high levels in the opening trade on Friday. The 30 constituent Sensex crossed 84,000 points for the first time, while, the broader index Nifty was at 25,500 points around 12:30 pm. The former has surged more than 1000 points, while, the latter is up 276 points. Both the benchmark indices are up in excess of or one per cent.

Auto, Metal Scrips Surge

Stocks like Mahindra & Mahindra (M&M), JSW Steel, Maruti, Tata Steel, Larsen & Toubro, ICICI Bank, Power Grid, Nestle, Bharti Airtel and Adani Ports were the biggest gainers amongst the Sensex pack. The rally was mostly led by auto and metal stocks. Nifty Auto is up 1.70, while the Nifty Metal surged 1.90%.

• Mahindra & Mahindra share price rallied 4% to Rs 2,906 on Friday
• JSW Steel share price was up 4% to Rs 963 per share
• PSU stock Coal India skyrocketed 3.25% and traded at Rs 493 apiece

BSE Rides On Global Surge

The rally in India’s benchmark indices was in line with global counterparts. Along with Japan’s Nekkei 225, other stock market indices in Tokyo, Seoul and Hong Kong were also in green on Friday.
The US markets also closed higher on Thursday after the US Central Bank Federal Reserve cut interest rates by 50 basis points to 4.75%– 5%. The equity market all around the world has positively taken Fed’s interest rate cut decision. India’s equity indices had made high levels yesterday also.

FIIs Offloads Rs 2,500 Crore

Albeit, Foreign Institutional Investors (FIIs) were net sellers of India’s domestic equities on Thursday. They had offloaded equities worth around Rs 2,500 crore. Global oil benchmark Brent crude on the other hand was down 0.29% on Friday and traded at $74.66 per barrel.
Also Read: Reliance Power Cleans Its Slate- Anil Ambani Owned Reliance Infra Looks To Raise Rs. 3,000 Crore For New Ventures