Stock market gains over 1%, investors get richer by Rs 6 lakh crore

The Indian stock market rebounded strongly on Friday amid positive global cues.

At the close, the Sensex rose 918.60 points, or 1.20%, to 77,550.25, while the Nifty gained 275.50 points, or 1.16%, to 24,050.60.

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Among the sectors, Auto, Capital Goods, Consumer Durables, Realty, Power, FMCG, PSU Banks, Metal, and Private Banks added 1-2%, while the IT index shed 1.7%.

Among IT stocks, Wipro shares rose 1%, while Tata Consultancy Services (TCS) declined 2.5%.

Bank shares rebounded from the previous session’s losses, rising by up to 3%.

ICICI Bank emerged as the top gainer, rising 3.3%. Federal Bank and Axis Bank gained 2.38% and 2.34%, respectively.

State Bank of India, HDFC Bank, Punjab National Bank and Kotak Mahindra Bank were trading higher by 1-2%.

On the Nifty, key gainers included Asian Paints, Eicher Motors, ICICI Bank, Bajaj Auto, and Shriram Finance. Losers included Coal India, Sun Pharma, Infosys, TCS, and Tech Mahindra.

The Nifty Midcap and Smallcap indices rose 1.5 per cent each.

Investors earned about Rs 6 lakh crore as the overall market capitalisation of BSE-listed firms rose to Rs 451 lakh crore from nearly Rs 445 lakh crore in the previous session.

On the BSE, over 100 stocks touched their 52-week highs, including Adani Energy, Ather Energy, ABB India, Hitachi Energy, Cummins India, Titan Company, MCX India, Anand Rathi, and Natco Pharma, among others.

Defence-related shares rallied up to 16%. Bharat Forge and Dynamatic Technologies advanced 3.43% and 2.9%, respectively, while Hindustan Aeronautics, Mazagon Dock Shipbuilders, and Paras Defence and Space Technologies traded higher by 1–2%.

SpiceJet shares hit the upper circuit for the third consecutive session, locked in the 5 per cent upper circuit at Rs 12.27.

In a week, Sensex and Nifty gained nearly 6 per cent each, marking their best weekly performance and snapping a six-week losing streak.