Stock market gains; Sensex rises 484 points to close; find out how the market will fare next week

Stock Market News: According to market analysts, "Domestic investor confidence remains strong despite volatility in global markets." The market gained strength due to increased buying in stocks of the finance, auto, and FMCG sectors.

Stock market gains momentum, Sensex rises 484 points to close; find out how the market will fare next week.

 

Stock Market Today: The stock market closed strongly on Friday, the last trading day of the week. Strong gains in the FMCG sector and a surge in Reliance Industries shares supported the market. The S&P BSE Sensex rose 484.53 points to close at 83,952.19, while the NSE Nifty 50 also gained 124.55 points to cross 25,600.

Investor sentiment remains strong.

According to market analysts, "Despite volatility in global markets, domestic investor confidence remains strong." The market gained strength due to increased buying in stocks of the finance, auto, and FMCG sectors.

 

During trading on Friday, the BSE Sensex rose 704.58 points to a high of 84,172.24. The NSE Nifty gained 124.55 points (0.49%) to close at 25,709.85. Asian Paints was the biggest gainer among Sensex stocks, rising 4.18 percent. Shares of Mahindra & Mahindra, Bharti Airtel, ITC, Hindustan Unilever, ICICI Bank, and Reliance Industries also closed with gains.

 

On the other hand, shares of Infosys, HCL Tech, Tech Mahindra, Tata Steel, and Eternal declined. Foreign institutional investors (FIIs) bought shares worth ₹997.29 crore on Thursday, while domestic institutional investors (DIIs) bought shares worth ₹4,076.20 crore.

Asian market situation

In Asian markets, South Korea's Kospi was in positive territory, while Japan's Nikkei, China's Shanghai Composite, and Hong Kong's Hang Seng closed lower. European markets were weak in afternoon trading, and US markets also closed lower on Thursday.

 

Global oil benchmark Brent crude fell 0.92 percent to $60.50 a barrel. In the previous session, the BSE Sensex rose 862.23 points to 83,467.66, while the Nifty gained 261.75 points to close at 25,585.30.