Sensex recovers 60k level; snaps 3-day bearish run

According to exchanges, BSE Sensex surged 303 points and settled at 60,261.18 while NSE Nifty 50 rose 98 points to 17,956.60 on Friday.

The domestic equity markets opened with losses, later gained and ended the 3-day losing run, on Friday. Strong global stocks had been the order of the day as US Federal Reserve officials showed optimism. US markets finished higher in choppy trade on Thursday in the aftermath of the December consumer price index (CPI) report. One of the officials of US Federal Reserve said the days of giant rate hikes are 'surely past'.

According to exchanges, BSE Sensex surged 303 points and settled at 60,261.18 while NSE Nifty 50 rose 98 points to 17,956.60 on Friday. Some of the active stocks that went up on BSE were Rallis, Genus Power, Nations Standard India and Apcotex Industries. Bata India, GE, GSPL and Apar Industries and Gujarat Gas were some of the laggards.

In Asian markets, Japan's Nikkei went down 300 points, Hong Kong's Hang Seng went up 10 points while China's Shanghai SE surged 17 points on Friday. In European markets, FTSE gained 69 points, CAC 40 and Deutsche Borsewas trading in the green while Refinitiv Europe was trading 2 points up as markets closed.

In the US markets, Dow Jones rose and settled with 216 points higher, Nasdaq surged 69 points while S&P went up 13 points at the close of Thursday trading. Indian rupee depreciated 4 paise to 81.31 against the US dollar on Friday. Traders said positive macroeconomic data and broad weakness in the American currency supported the rupee and contained the depreciation bias.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.08 per cent to 102.07 as Asian markets open on Friday morning. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, "There are significant near-term positives for equity markets. Globally, the decline in US inflation to 6.5 per cent and the consequent decline in US 10-year bond yields by 10 per cent to 3.46 per cent are supportive of equity markets. The dollar index dipping below 103 is positive for emerging market equity. Therefore, the sustained selling by FIIs in India for the 15th trading session is likely to abate, going forward." (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)