New Delhi: Equity investors on Friday became richer by Rs 3.43 lakh crore amid an overall positive trend in the market and a jump of nearly 900 points in the benchmark Sensex. The BSE Sensex closed at 59,808.97, up 899.62 points or 1.53 per cent. During the day, the benchmark rose 1,057.69 points, or 1.79 per cent, to 59,967.04. The market capitalization of companies listed on BSE increased by Rs 3,43,173.59 crore to Rs 2,63,42,218.11 crore. “Markets had more reasons to cheer today than worry about concerns about inflation. PSU banks led the sectoral rally due to reports of foreign investment in Adani shares, giving a bearish sentiment to the sector. Helped to refill.
Vinod Nair, head of research, Geojit Financial Services, said, “Sentiment turned lighter as FIIs turned strong buyers.” Foreign portfolio investors (FPIs) bought shares worth Rs 12,770.81 crore on Thursday, according to exchange data.
Troubled Adani Group has sold minority stake in four of its listed companies to US-based GQG Partners for Rs 15,446 crore as the conglomerate, recovering from sell-off triggered by short-seller reports, seeks to shore up further liquidity. Loan repayment of USD 2 billion in the coming months.
The Indian services sector expanded at the strongest rate in 12 years in February, supported by favorable demand conditions and new business gains, a monthly survey said on Friday. From the Sensex pack, State Bank of India, Bharti Airtel, Reliance Industries, ITC, Tata Steel, IndusInd Bank, HDFC Bank, Tata Motors, ICICI Bank, HDFC and Titan were the major gainers.
Tech Mahindra, UltraTech Cement, Nestle and Asian Paints were the laggards. In the broader market, the BSE Smallcap gauge climbed 0.68 per cent and the Midcap index jumped 0.58 per cent. All sectoral indices ended in the green with gains in services 3.17 per cent, Bankex 2.13 per cent, utilities (1.84 per cent), financial services (1.76 per cent), commodities (1.69 per cent) and power (1.60 per cent). , In the Asian markets, Seoul, Japan, China and Hong Kong closed in the green. Equity markets in Europe were trading in the positive zone. The US market closed with gains on Thursday.