In the early hours of trading on Friday, stock markets witnessed a significant uptick, marking the sixth consecutive day of gains, driven by robust buying in Tech Mahindra and positive trends in Asian markets. The 30-share BSE Sensex soared by 176.47 points to reach 74,515.91, while the NSE Nifty climbed 50.05 points to stand at 22,620.40.
Tech Mahindra steals the show
Tech Mahindra stole the spotlight by registering a notable surge of over 12.50 percent. The spike came after the IT services giant’s CEO unveiled an ambitious three-year roadmap aimed at accelerating revenue growth and enhancing margins.
Key gainers and losers
Apart from Tech Mahindra, Tata Steel, Wipro, JSW Steel, HCL Technologies, HDFC Bank, and ITC were among the prominent gainers. Conversely, Bajaj Finance, Bajaj Finserv, Mahindra & Mahindra, and Nestle witnessed a decline in their stock value.
Market trends and global scenario
Meanwhile, Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, showed positive trends. However, Wall Street closed on a lower note on Thursday. Oil prices also saw an uptick, with global benchmark Brent crude rising by 0.33 percent to reach USD 89.30 per barrel.
Foreign institutional investors’ activity
According to exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,823.33 crore on Thursday.
Previous day’s performance
On Thursday, the BSE benchmark surged by 486.50 points or 0.66 percent to settle at 74,339.44, while the NSE Nifty advanced by 167.95 points or 0.75 percent to reach 22,570.35.
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