Stock market today: Sensex and Nifty surrendered a large part of their intraday gains but still ended Friday with modest increases of around 0.5 percent, supported by strong buying in PSU banking, IT and metal stocks, even as concerns persisted over rising fuel-led inflation.In a highly volatile trading session, the 30-share BSE Sensex advanced 325.72 points, or 0.44 percent, to close at 74,532.96. During the day, it had surged as much as 1,079.15 points, or 1.45 percent, to touch 75,286.39. Similarly, the NSE Nifty 50 rose 112.35 points, or 0.49 percent, to settle at 23,114.50, after climbing 343 points, or 1.49 percent, to an intraday high of 23,345.15.Among Sensex constituents, Tata Steel, Tech Mahindra, Infosys, Trent, Reliance Industries, Titan, NTPC and Sun Pharma were among the leading gainers. On the other hand, HDFC Bank, Bharat Electronics, Kotak Mahindra Bank and ICICI Bank ended in the red.Meanwhile, fuel prices moved higher, with premium-grade petrol becoming costlier by Rs 2 per litre, while bulk diesel prices for industrial users rose by around Rs 22 per litre, reflecting the surge in global crude prices amid tensions in West Asia.“Positive comments aimed at de-escalating the conflict and avoiding attacks on oil and gas infrastructure led to a moderate rebound during the day. However, investor sentiment remains fragile, with gains tapering off as participants remain reluctant to hold positions over the weekend amid war-related uncertainties,” Vinod Nair, Head of Research, Geojit Investments Limited, said.Brent crude, the global benchmark, climbed 1.88 percent to $110.7 per barrel.“Indian equities witnessed a relief-driven rebound, primarily driven by short-covering after a sharp build-up of bearish positions in the previous sessions,” Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.In Asia, South Korea’s Kospi index ended higher, while China’s Shanghai Composite and Hong Kong’s Hang Seng index closed lower. Japanese markets remained shut for a holiday. European markets were trading in positive territory, while US equities had ended lower on Thursday.Foreign Institutional Investors sold equities worth Rs 7,558.19 crore on Thursday, as per exchange data, while Domestic Institutional Investors purchased shares worth Rs 3,863.96 crore.In the previous session, the Sensex had plunged 2,496.89 points, or 3.26 percent, marking its steepest single-day fall since June 2024, to close at 74,207.24. The Nifty had dropped 775.65 points, or 3.26 percent, to settle at 23,002.15.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
