Sensex Rallies Over 850 Points, Tracking US Stocks Best Performance Since 2020
NDTV
Stock Market India: Equity benchmarks rose sharply on Friday, tracking the biggest rally in Wall Street stocks since 2020.
Indian equity benchmarks rose sharply on Friday, tracking the biggest rally in Wall Street stocks since 2020 after data showed US inflation eased to the lowest since January and renewed hopes the Federal Reserve moves away from its aggressive rate hike stance.
After falling for two straight days, the 30-share BSE Sensex index rose 855 points to 61,469.22, and the broader NSE Nifty-50 index opened in the green, reflecting a feverish risk-on rally in other Asian bourses.
The Nifty IT index surged 3.2 per cent, and the Nifty bank index rose 1.3 per cent.
Zomato's shares jumped 10 per cent after the Indian food delivery firm reported a lower loss for the second quarter on Thursday.