Markets

Sensex snaps 6-day losing streak, rallies 835 points to reclaim 37k-mark

Snapping its six-day falling streak, equity benchmark Sensex rallied 835 points on Friday to reclaim the 37,000-mark on across-the-board buying amid mixed global cues.

The 30-share BSE index ended 835.06 points or 2.28% higher at 37,388.66.

Similarly, the NSE Nifty rose 244.70 points or 2.26% to finish at 11,050.25.

All Sensex components ended in green, with Bajaj Finserv, HCL Tech, Bharti Airtel, IndusInd Bank, L&T, TCS, ONGC and ICICI Bank, Bajaj Finance and SBI gaining up to 6.64%.

In rest of Asia, bourses in Tokyo and Seoul ended settled with gains, while Shanghai and Hong Kong ended in the red.

Stock exchanges in Europe were also trading on a mixed note in early trade.

“Stimulus measures, if any, in the US could provide support to the markets. If the market corrects from these levels, then investors should actively look for accumulating good quality stocks for long term wealth creation,” said Sanjeev Zarbade, VP PCG Research, Kotak Securities.

In the forex market, the rupee strengthened by 28 paise to finish at 73.61 against the US dollar.

Global oil benchmark Brent crude was trading 0.05% higher at USD 41.96 per barrel.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹1,885.69 crore on Thursday, exchange data showed.


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Printable version | Jul 24, 2021 9:03:52 AM | https://www.thehindu.com/business/markets/sensex-snaps-6-day-losing-streak-rallies-835-points-to-reclaim-37k-mark/article32696266.ece

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