NEW DELHI: Equity benchmark indices Sensex and
Nifty
surged in early trade on Friday, driven by robust GDP data and increased foreign fund inflows. The positive momentum in the equity markets was further boosted by a rally in global markets.
In early trade, Sensex soared by 417.77 points to reach 72,918.07. Nifty also saw a significant climb of 142.85 points, reaching 22,125.65.
Tata Steel, Tata Motors, JSW Steel, Mahindra & Mahindra, Larsen & Toubro, Power Grid,
IndusInd Bank
, Maruti, NTPC, and ICICI Bank were the major gainers in Sensex.
On the other hand, HCL Technologies, Infosys, Hindustan Unilever, and Asian Paints experienced a decline.
India's economy witnessed a better-than-expected growth of 8.4 percent in the final quarter of 2023, marking the fastest pace in one-and-a-half years. This growth rate surpassed the 7.6 percent recorded in the previous three years, contributing to an estimated growth rate of 7.6 percent for the current fiscal year (April 2023 to March 2024). The National Statistical Office (NSO) released this data on Thursday.
The global oil benchmark, Brent crude, experienced a slight decline of 0.07 percent, settling at USD 83.62 per barrel.
In Asian markets, Tokyo, Shanghai, and Hong Kong all showed gains. Meanwhile, the US markets closed with positive results on Thursday.
Foreign Institutional Investors (FIIs) turned into buyers on Thursday, investing in equities worth Rs 3,568.11 crore according to exchange data.
On Thursday, the BSE benchmark rose by 195.42 points or 0.27 percent, settling at 72,500.30. Similarly, the Nifty increased by 31.65 points or 0.14 percent, reaching 21,982.80.
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