Markets continue to rally for 2nd day on positive global trends

PTI

Mumbai, November 3

Equity benchmark indices Sensex and Nifty ended with gains on Friday in line with positive trends in global markets.

Extending its previous day’s rally, the 30-share Bombay Stock Exchange (BSE) Sensex climbed 282.88 points or 0.44 per cent to settle at 64,363.78. During the day, it jumped 454.29 points or 0.70 per cent to 64,535.19.

The Nifty went up by 97.35 points or 0.51 per cent to 19,230.60.

Among the Sensex firms, Titan, Tech Mahindra, Tata Motors, JSW Steel, ICICI Bank, Infosys, State Bank of India, and Sun Pharma were the major gainers.

Bajaj Finserv, IndusInd Bank, Nestle, Tata Steel and Bajaj Finance Bank were the major laggards.

In Asian markets, Seoul, Shanghai and Hong Kong settled with gains.

European markets were trading in the positive territory. The US markets ended with significant gains on Thursday.

Global oil benchmark Brent crude rose 0.01 per cent to USD 86.86 a barrel.

“The optimism is buoyed by firm global clues, steady macroeconomic data and strong domestic corporate earnings. Clues that Fed is unlikely to hike rates in the future and modest decline in oil prices are adding to the optimism,” said Vinod Nair, Head of Research at Geojit Financial Services.

Foreign Institutional Investors continued to be net sellers in the capital markets as they offloaded equities worth Rs 1,261.19 crore, according to exchange data.

The BSE benchmark jumped 489.57 points or 0.77 per cent to settle at 64,080.90. The Nifty climbed 144.10 points or 0.76 per cent to 19,133.25.

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