Sensex rebounds 759 pts, Nifty ends above 24,100 on gains in Airtel, RIL

PTI, Nov 29, 2024, 5:04 PM IST

Benchmark Sensex rallied 759 points while Nifty closed above 24,100 on Friday following buying in frontline stocks Bharti Airtel and Reliance Industries.

The 30-share BSE Sensex jumped 759.05 points or 0.96 per cent to settle at 79,802.79. During the day, it soared 880.16 points or 1.11 per cent to 79,923.90.

The NSE Nifty climbed 216.95 points or 0.91 per cent to 24,131.10.

From the 30-share Sensex pack, Bharti Airtel, Mahindra & Mahindra, UltraTech Cement, Adani Ports, Reliance Industries, Larsen & Toubro, JSW Steel, Hindustan Unilever, Titan and Tata Motors were the biggest gainers.

Power Grid, Nestle, State Bank of India and Infosys were the laggards.

Majority of Adani Group firms ended higher, with Adani Green Energy soaring 21.72 per cent and Adani Energy Solutions surging 15.56 per cent on the BSE.

The BSE smallcap gauge climbed 0.76 per cent and midcap index went up by 0.31 per cent.

“A large-cap-driven, broad-based rally ensued in the domestic market. The anticipated slowdown in India’s Q2 GDP to 6.5% has already been reflected in Q2 corporate earnings, which the market appears to have discounted,” Vinod Nair, Head of Research, Geojit Financial Services said.

Official data released after the market hours showed the Indian economy growing at a slower rate of 5.4 per cent in the July-September period of 2024-25 from 8.1 per cent in the year-ago period.

Among sectoral indices, BSE healthcare jumped the most 2.05 per cent, followed by telecommunication (1.53 per cent), utilities (1.46 per cent), energy (1.09 per cent), commodities (1.04 per cent) and teck (1.02 per cent).

Realty emerged as the only laggard.

As many as 2,347 stocks advanced while 1,606 declined and 97 remained unchanged on the BSE.

On the weekly front, the BSE benchmark jumped 685.68 points or 0.86 per cent and the Nifty climbed 223.85 points or 0.93 per cent.

In Asian markets, Shanghai and Hong Kong settled in the positive territory while Seoul and Tokyo ended lower. European markets were trading lower. US markets were closed on Thursday for Thanksgiving.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 11,756.25 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude dipped 0.30 per cent to USD 73.06 a barrel.

The BSE benchmark slumped 1,190.34 points or 1.48 per cent to settle at 79,043.74 on Thursday. The Nifty tumbled 360.75 points or 1.49 per cent to 23,914.15.