Sensex rallies for 3rd day, closes 712 points higher; Tata Steel surges 7.27 per cent

The Indian stock market's key indices, Sensex and Nifty, rallied for the third straight day on Friday led by strong buying support in metal, financial and energy stocks.

The Indian stock market's key indices, Sensex and Nifty, rallied for the third straight day on Friday led by strong buying support in metal, financial and energy stocks. The 30 stock S&P BSE Sensex surged 712.46 points or 1.25 per cent to 57,570.25 points against its previous day's close at 56,857.79 points.

This is the third consecutive day of rally in the Indian equities markets. The Sensex had gained 1041.47 points or 1.87 per cent on Thursday. The Sensex started the day sharply higher at 57,258.13 points and rose to a high of 57,619.27 points in the intra-day. The index touched a low of 57,104.81 points in the intra-day.

The broader Nifty 50 of the National Stock Exchange rallied 228.65 points or 1.35 per cent to 17,158.25 points against its previous day's close at 16,929.60 points. The Nifty has rallied for the third straight day. The Nifty had gained 287.80 points or 1.73 per cent on Thursday.

Tata Steel surged 7.27 per cent to Rs 107.65. Sun Pharma surged 5.45 per cent to Rs 943.55 after announcing strong quarterly numbers. Sun Pharma on Friday reported a consolidated net profit to Rs 2,060.88 crore for the quarter ended June 30 as compared to Rs 1,444.17 crore recorded in the corresponding period of the last year, registering a year-on-year growth of 42.70 per cent.

Bajaj twins surged for the second consecutive day. Bajaj Finserv surged 2.64 per cent to Rs 15039.30. The scrip had surged 10.14 per cent on Thursday. Bajaj Finance soared 1.87 per cent to Rs 7208.90. The scrip had gained 10.68 per cent on Thursday.

The index heavyweight Reliance Industries Limited soared 2.10 per cent to Rs 2508.75. IndusInd Bank, Asian Paints, Infosys, Wipro, HDFC, NTPC and Bharti Airtel were among the major Sensex gainers.

Buying support was across the board. Only five of the 30 scrips that are part of the benchmark Sensex closed in the red. Dr Reddy's Laboratories dipped 3.96 per cent to Rs 4090.35. Kotak Bank, SBI, ITC and Axis Bank also closed in the red. (ANI)

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