SENSEX surges over 700 points, reclaims 83,000 mark, NIFTY50 trades near day’s high

On Friday, after opening on a weaker note, the Indian equity benchmark indices extended their early losses, with the NIFTY50 index briefly slipping below the 25,100 mark. However, renewed buying interest at lower levels led to a swift recovery in the frontline indices. By midday, the NIFTY50 had climbed above the 25,380 level, gaining 136 points, while the SENSEX surged over 500 points to reclaim its psychological level of 83,000. Nifty Bank outperformed, rising by 0.76% or 400 points. Meanwhile, the India VIX, despite slipping from its peak, remained up by 2.20%.

The NIFTY50 index displayed a strong market breadth, with 36 stocks advancing against 14 declining. Overall, market breadth was strong, as 1,491 stocks advanced compared to 847 that declined. Both the Nifty Midcap 100 and Nifty Smallcap 100 indices were also trading higher, up by 0.33% and 0.39%, respectively.

Among the sectoral indices, most were trading in positive territory, led by Nifty PSU Bank (+1.91%) and Nifty IT (+1.72%). On the other hand, Nifty Realty (-1.1%), emerged as top loser, extending its losses for the fifth consecutive session, reaching its lowest level in over a month.