May 8, 2021 03:52 PM
Three days in advance The domestic market moved for a third day as metal stocks rallied. Also the recent financial results of corporate companies have impressed the market segments. Positive signs in international markets have converged.
The rupee strengthened by 27 paise against the dollar in early trade at the Interbank Foreign Exchange. As a result, the Sensex gained 257 points to close at 49,206 on Friday.
The Nifty was up 98 points at 14,823. Shares of HDFC, which has the highest weightage in the index, gained 2% to support the rally in the index. Metal shares received higher buying support. Banking shares came under selling pressure. Profits were received in pharma shares.
All time hike BSE market cap:
The domestic market moved for a third day as metal stocks rallied: The total market capitalization (value) of companies listed on the BSE on Friday was Rs. 211 lakh crore. While this is the latest record, the BSE market cap, which is considered to be the wealth of investors, rose by Rs. 4.39 lakh crore. ⁇
The 30-share pack Sensex rose 256.71 points or 0.52 per cent to close at 49,206.47. The index traded in a range of 381.26 points during the day. Its broader peer NSE Nifty advanced 98.35 points or 0.67 per cent to settle at 14,823.15.
“Global bourses were largely positive as easing restrictions on movement in the US and Europe along with the expectations of better US job data signalled a faster economic rebound in the western markets. Metals stocks are continuing their upbeat movement on improved sectoral outlook while mid-cap stocks underperformed their peers,” said Vinod Nair.