Stock Market
Dalal Street roars back! Sensex explodes over 700 points as IT giants ignite market comeback
Mumbai/IBNS: The Indian stock market on Friday soared in the first hour after the opening bell, rebounding from a dull run in the previous sessions, media reports said.
The BSE Sensex climbed 709 points to 84,092.31 and the NSE Nifty 50 rose 195.50 points to 25,861.10 at around 10:30 am as trading resumed on Dalal Street following a day’s holiday on Thursday due to the Maharashtra civic polls.
The market rally was driven primarily by a recovery in IT stocks along with select banking and auto shares, which had witnessed losses in consecutive sessions.
Around 10:30 am, Infosys Ltd., Tech Mahindra Ltd., M&M, HCL Tech, Bajaj Finserv and Bajaj Finance were among the top gainers. Titan, Maruti, ITC and ICICI Bank figured among the top losers in the first hour of trading.
The early surge corrected slightly later in the session, though the indices continued to hold gains of around 500 points in the second hour of trade.
Meanwhile, Cipla shares slipped 5 percent after the company’s key drug Lanreotide Injection was temporarily halted.
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