Equity benchmark indices showed a remarkable recovery in early trade on Friday (August 4) following three consecutive days of decline. This was driven by increased buying in the IT sector and mixed global market trends.
The 30-share BSE Sensex surged by 300.1 points to reach 65,540.78 in early trade, while the NSE Nifty rose by 105.9 points to 19,487.55.
Notable gainers in the Sensex pack included Tech Mahindra, Wipro, HCL Technologies, Tata Consultancy Services, Infosys, JSW Steel, Titan, and ITC. On the other hand, Power Grid, Hindustan Unilever, Tata Motors, and ICICI Bank were among the laggards.
In Asian markets, Shanghai and Hong Kong were trading positively, whereas Seoul and Tokyo experienced a decline.
The US markets ended slightly lower on Thursday.
According to a monthly survey, India’s services sector growth reached a 13-year high in July, witnessing a significant improvement in demand and international sales. This resulted in a strong increase in new business and output.
Foreign Institutional Investors (FIIs) sold equities worth Rs 317.46 crore on Thursday, as per exchange data.
The global oil benchmark, Brent crude, increased by 0.12% to reach USD 85.24 per barrel.
The BSE benchmark fell by 542.10 points or 0.82% and settled at 65,240.68 on Thursday, while the Nifty declined by 144.90 points or 0.74% to close at 19,381.65.
The rupee strengthened by 2 paise against the US dollar and reached 82.72 in early trade.
(With PTI inputs)
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
