December 27th 2024.
Mumbai, the bustling financial hub of India, saw a positive end to the week as the benchmark indices, Sensex and Nifty, closed higher on Friday. This was largely due to an increase in buying activity in the banking and automobile sectors. The 30-share BSE Sensex recorded a rise of 226.59 points or 0.29 per cent, settling at 78,699.07. Throughout the day, it witnessed a significant jump of 570.67 points or 0.72 per cent, reaching a high of 79,043.15. Similarly, the NSE Nifty also saw a rise of 63.20 points or 0.27 per cent, closing at 23,813.40.
Among the 30 blue-chip companies, Mahindra & Mahindra, IndusInd Bank, Bajaj Finance, Tata Motors, Bajaj Finserv, Nestle, and ICICI Bank emerged as the top gainers. On the other hand, State Bank of India, Tata Steel, Adani Ports, Zomato, UltraTech Cement, and HCL Tech were among the laggards. In the Asian markets, Tokyo and Shanghai ended on a positive note, while Seoul and Hong Kong saw a dip. European markets were also trading in the green, while the US markets closed flat on Thursday.
The global oil benchmark, Brent crude, saw a slight increase of 0.18 per cent, reaching $73.39 per barrel. However, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,376.67 crore on Thursday, as per the exchange data. The previous day, in a rather muted trade, the BSE benchmark closed at 78,472.48, dipping by 0.39 points. The Nifty, on the other hand, managed to eke out gains of 22.55 points or 0.1 per cent, closing at 23,750.20.
Overall, the stock market in Mumbai saw a positive trend on Friday, with gains in key sectors driving the indices higher. The rise in oil prices and offloading of equities by FIIs were the only minor setbacks in an otherwise successful day of trading. With the global markets also showing positive signs, it seems like the Indian stock market is set for a promising start to the upcoming week.
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