Closing Bell: Market stages a blockbuster comeback on Friday, Sensex rises nearly 3%
Domestic equity bourses Sensex and Nifty bounced back on the last trading session of the week, recovering from the previous day's sharp slump, amid strength in Asian markets.
Indian equity market made a stunning comeback on Friday after falling deeply in the previous session, led by buying in metal and pharma shares. The rally was triggered as Asian stocks jumped after China cut their key lending benchmark to support a slowing economy. Due to today's surge, the market capitalisation of BSE-listed firms jumped by Rs 5,05,143.44 crore to stand at Rs 2,54,11,537.52 crore. Owi g to these developments, Indian indices erased previous day's losses and closed higher.
At the closing bell on May 20, the Sensex was up 1,534.16 points or 2.91% at 54,326.39, and the Nifty was up 456.80 points or 2.89% at 16,266.20. On the market depth, around 2468 shares have advanced, 801 shares declined, and 111 shares are unchanged.
Top Nifty gainers today were, Dr Reddy's Laboratories, Reliance Industries, JSW Steel, Nestle India and Tata Motors, while losers included Shree Cements and UPL. In top trending stocks, Dr Reddy's was the top Nifty gainer as the stock climbed 7.60% to Rs 4,228.
Sector-wise all the indices closed in green with metal, pharma, capital goods, PSU bank and realty indices up 3-4% each. In the broad markets, BSE midcap and smallcap indices rose 2% each.
Prudent Corporate Advisory made a subdued listing on the bourses. The stock which was listed at a premium of 4.8% on the BSE at Rs 660, over the issue price of Rs 630 apiece, soon fell below it and was seen trading with cuts of up to 9% in mid-noon deals.
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