Markets: On the BSE’s 150th anniversary, Sensex zooms 1,500 points; Nifty follows up with 414
Virendra Pandit
New Delhi: Indian indices on Thursday started low but flew over 1.7 percent with Sensex and Nifty closing up by more than 1,500 and 414 points, respectively, keeping their upward mobility in tune with some other world markets.
Incidentally, the BSE on Thursday celebrated its 150th anniversary. The Sensex is the benchmark index of the BSE – Asia’s oldest stock exchange.
The two equity benchmark indices, the Bombay Stock Exchange (BSE) Sensex and the National Stock Exchange (NSE) Nifty 50, staged a strong rebound from lows of the day in Thursday’s intra-day trades, and were seen quoting higher for the fourth straight day.
The two benchmarks started Thursday on a jittery note amid tepid cues from global markets because of the ongoing US-China tariff tussle, and the US Federal Reserve chair Jerome Powell warning on potential consequences on the economy from tariffs.
While Sensex opened 76 points lower at 76,868, and soon slipped to another low of 76,666, it rallied sharply to an intra-day high of 78,617 – up 1,951 points from the day’s low. It finally closed at 78,553 – up 1,509.91 points, or 1.96 percent.
Similarly, the Nifty50 rebounded from the day’s low of 23,299, and soared a high of 23,872. It settled with a gain of 414.45 points or 1.77 percent at 23,851.65.
Benchmark equity indices extended the winning streak to the fourth straight day on Thursday backed by strong gains in banking shares and Reliance Industries, even as world markets traded on a mixed note amid the US-China tariff escalation.
The Nifty50 registered its biggest weekly gain since February 2021, up 4.4 percent in just three trading sessions.
Among the Sensex 30 shares – Eternal, formerly known as Zomato, surged 4.4 percent. ICICI Bank, Bharti Airtel and Sun Pharma rallied over 3.5 percent each. SBI, Bajaj Finserv, Kotak Bank, Reliance Industries, Adani Ports and Axis Bank were the other major gainers. The broader indices, however, lagged the benchmark indices. The BSE MidCap and SmallCap edged 0.5 percent up each.
