Stock Market Today: Sensex Surges Over 400 Points, Nifty Above 16,300 Amidst Strong Global Cues

At 9:17 am, the BSE Sensex advanced 450 points or 0.83 per cent at 54,703, whereas, Nifty 50 index surged 136 points or 0.85 per cent at 16,307, amidst strong sentiments by global investors.

Outlook Business Team

Updated on: 27 May 2022 9:40 am

The Indian equity benchmarks opened higher as indicated by the SGX index. At 9:17 am, the BSE Sensex advanced 450 points or 0.83 per cent at 54,703, whereas, Nifty 50 index surged 136 points or 0.85 per cent at 16,307, amidst strong sentiments by global investors.

The Nifty Midcap 50 index surged 1.19 per cent at 7,577, whereas the Nifty Midcap 100 index surged 1.21 per cent at 27,610. Barring the oil and gas stocks, all other sectoral indices witnessed strong buying in the early trade between 0.16 per cent to 2.80 per cent.

Amongst the Nifty 50 companies, Tech Mahindra, HCL Technologies, Infosys, Wipro and Hindalco were the top gainers, whereas ONGC, Apollo Hospitals, NTPC, Power Grid and Asian Paint were the top losers.

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Amongst the BSE listed companies, HCL Technologies, Bajaj twins, Tech Mahindra, IndusInd Bank, Infosys and Wipro were the top gainers whereas NTPC, Power Grid, Nestle India, Dr. Reddy, and Asian Paint remained the top losers.

In Asia, major indices bounced higher in early trade. The MSCI’s broadest index of Asia-Pacific shares outside Japan surged 1.57 per cent. While the Nikkei 225 surged 0.65 per cent, the Hang Seng index advanced 2.97 per cent. South Korea’s KOSPI surged by 1.02 per cent. The Shanghai Composite was higher by 0.62 per cent, whereas the Shenzhen component advanced 1.37 per cent.

In the US, the major indices were trading higher for the second day on Thursday boosted by investor sentiments. The S&P 500 surged 79.11 points or 0.2 per cent to 4,057. The Dow Jones Industrial Average surged 516.91 points or 1.6 per cent or 32,637. The Nasdaq advanced 305 points or 2.7 per cent to 11,740.

Back home, the foreign institutional investors (FII) remained the net sellers on Thursday worth Rs 1,597 crore, whereas the domestic institutional investors (DII) remained the net buyers worth Rs 2,906 crore.

After a consistent two-month high, oil prices slipped in early trade on Friday with the Brent crude oil benchmark slipping 11 cents to $117.29 per barrel. On Thursday, the Rupee declined by 6 paise to close 77.61 against US dollars owing to high crude oil prices and consistent foreign capital outflow.

Bharti Airtel, Tata Power, Hindalco, JSW Steel, Sun Pharma, Muthoot Finance and Glenmark Pharma are the stocks that will remain in focus on Friday.