Indian shares rose notably on Friday and the rupee rose above the crucial 82 per dollar mark, as the dollar weakened in international markets following hawkish comments from ECB President Christine Lagarde in the previous session.
Investors are also pinning hopes that the Federal Reserve will not follow through with more rate hikes.
The benchmark S&P/BSE Sensex ended the session up 466.95 points, or 0.74 percent, at 63,384.58 while the broader NSE Nifty index settled 137.90 points, or 0.74 percent, at 18,826.
Financials led the surge, with HDFC Life rallying nearly 6 percent.
Titan Company, Dr Reddy’s Laboratories, Bajaj FinServ and SBI Life jumped 2-3 percent.
Kalyan Jewelers soared 17.2 percent on the back of multiple block deals amid news of TS Anantharaman’s reappointment as non-executive independent director.
Mazagon Dock Shipbuilders rallied 12.5 percent on expectations that it will benefit from increased activity in India’s defense sector.
IT, auto and energy stocks underperformed, with BPCL, TCS, Bajaj Auto and Wipro falling 1-2 percent.
Sensex, Nifty Climb On Firm Global Cues
2023-06-16 10:30:53
