Sensex, Nifty Surge As Global Peers Rally

The Indian stock market started Friday's session with a strong rally as buyers returned to both the Nifty and Sensex indices.

The Nifty 50 index gained 1.12 per cent, or 269.85 points, opening at 19,386.85 points, while the Sensex surged by over 1,000 points, opening at 65,984.24 after a jump of 1,098.02 points or 1.69 per cent.

"Asian markets opened stronger this morning. Indian markets have seen over Rs 20,000 crore of FPI outflows in the cash equities segment in August so far. Fed futures are indicating a 70 per cent probability of a 50 bps rate cut on 18 September. In India, the RBI maintained its monetary policy stance" said Ajay Bagga, Banking and Market Expert.

He further added, on Thursday, the US markets rebound was broad-based, with many of the tech and momentum stocks that had suffered the most in the previous session leading the charge. There was an analysis from a leading international firm that around 75 per cent of the global carry trade has been reversed in the past few days of market mayhem. As the selling abates, buyers will bring back the positive momentum in markets.

In the broader market, the Nifty Next 50 and Nifty 100 indices also gained more than 1 percent during early trading on Friday. Overall, other broad market indices registered gains in the opening session as well.
 

In corporate news, several companies, including Bharat Dynamics, Aarti Industries, Berger Paints, and Sun TV Networks, are scheduled to declare their quarterly financial results today.
 

Global markets also reflected optimism, with U.S. stocks surging on Thursday after better-than-expected jobless claims. The Nasdaq Composite rose 2.87 per cent, the S&P 500 gained 2.30 per cent, and the Dow Jones increased 1.76 per cent.

In the Asian market, mixed performances were noted, with Japan's Nikkei 225 up 1.97 per cent and South Korea's KOSPI rising 1.48 per cent, Hong Kong's Hang Seng index also surged 1.93 per cent. (ANI)