Indian shares rose notably on Friday as the dollar and bond yields dipped from recent highs amid improved risk sentiment.
All eyes remained on the monthly U.S. jobs report due later in the day that could provide further clues on the growth and rate outlook.
The benchmark S&P BSE Sensex jumped 480.57 points, or 0.74 percent, to 65,721.25, snapping a three-day losing streak.
The broader NSE Nifty index settled 135.35 points, or 0.70 percent, higher at 19,517.
Healthcare stocks attracted buying, with Cipla surging 3.5 percent to a record high after reports that Blackstone is likely to submit a non-binding bid next week for acquiring over 33 percent promoter stake in the company.
Among other top gainers, Bharti Airtel, Wipro, Tech Mahindra and IndusInd Bank climbed 2-3 percent.
Metals stocks such as Hindalco and Tata Steel rose about 1 percent each after China’s central bank governor pledged more financial resources to support private firms and promote the sound development of the real estate sector.
Zomato surged 10.2 percent after reporting its first ever quarterly profit.
SBI lost 2.9 percent after Q1 core income lagged estimates.
Bajaj Auto fell 2.5 percent after posting weak sales figures for July.
Market Analysis
Sensex, Nifty Rally As Dollar And Bond Yields Dip
2023-08-04 10:29:48
