Equity benchmark indices open positively with Sensex rising 250 points, driven by financial stocks. The BSE Sensex and Nifty climb, but HUL and Reliance Industries shares suffer from their December quarter results. Most financial stocks perform well, while global oil benchmark Brent crude declines. Domestic equity markets are predicted to have subdued activity, with normal trading sessions announced on Saturday.
The Sensex rallied by 491 points and closed at 71,848, driven by foreign fund buying despite a weak overnight close for Wall Street stocks. Banking & financial stocks contributed the most to the gain. Minutes of the US Fed’s last meeting indicating rate cuts in 2024 cheered local investors. The market rebounded from its two-day fall, led by a rally in real estate stocks.
