Sensex, Nifty 50 surge as global crude oil prices drop
Tata Steel was the biggest gainer on both indices, and Tata Motors the top loser.
Indian markets surged on Friday, with the BSE Sensex closing 336.47 points higher at 39,067.33, and the National Stock Exchange Nifty 50 rising 112.85 points to finish at 11,754.65. The gain in the markets was the result of falling crude oil prices, Mint reported.
The top gainers on the Sensex were Tata Steel, ICICI Bank, Axis Bank, Tata Consultancy Services and State Bank of India. The stocks that declined the most were Tata Motors, Bajaj Auto, Maruti Suzuki, Bharti Airtel and Mahindra & Mahindra.
On the Nifty 50, Tata Steel, Bharat Petroleum Corporation Ltd, GAIL, ICICI Bank and JSW Steel were the best performers. On the other hand, stocks of Tata Motors, Bajaj Auto, Grasim, Dr Reddy’s Laboratories and Bharti Airtel declined the most.
Other Asian markets had a mixed day. The Hong Kong Hang Seng finished over 55 points higher. However, the Taiwan TSEC 50 Index fell by over 87 points, Japan’s Nikkei 225 by nearly 49 points, and the Shanghai index by 37 points.
The Indian rupee was trading 21 paise higher against the United States dollar at 70.04 at 4.28 pm.