Stock Market Today LIVE: Sensex Jumps 550 Points, Nifty50 Near 23,950; The New India Assurance Rallies 20%

Stock Market Today LIVE: The Indian stock market opened higher on Friday, led by buying in IT, realty and energy stocks, following upbeat global market cues.

The Sensex opened 504.16 points, or 0.66%, higher at 76,657.02, while the Nifty 50 gained 37.45 points, or 0.16%, to open at 23,910.90. the Bank Nifty index opened at 57,492.65, up by 112.05 points, or 0.20%.

Gains were also seen in broader markets, as the Nifty Smallcap 100 index gained 0.4%, while the Nifty Midcap 100 index was up marginally.

Among sectors, Nifty IT, Nifty Realty, Nifty Media and Nifty Oil & Gas sectors traded higher, while losses were seen in Nifty Auto and Nifty FMCG sectors.

Meanwhile, the Indian rupee opened 3 paise higher at 94.46 against the US dollar as against Thursday’s close of 94.49 level.

Market also saw relief from SEBI’s announcement that it will review how settlement prices for derivative contracts are determined after the introduction of the Closing Auction Session (CAS). The regulator may propose changes to the methodology for determining settlement prices of F&O contracts on expiry.

Sebi also plans to issue a consultation paper in about a week. The move comes after the regulator received feedback from market participants during its first month of operation.

Global Markets

Global markets’ trend remains supportive, with Wall Street’s overnight rebound and gains across Asian equities, following a retreat in global bond yields.

US Treasury yields fell after Federal Reserve Governor Christopher Waller suggested that another rate hike may not be necessary if upcoming inflation data remains moderate. Investors now watch out for Friday’s US nonfarm payrolls report which is expected to shape expectations for the Federal Reserve’s policy path. 

Stay tuned to this segment for live updates on the Indian stock market today.