Share Market Today News: Sensex surges 685 points, Nifty ends at 17,186 led by IT, financial stocks

Share Market News, Stock Market News, Sensex, Nifty Share Prices Today, October 14: The S&P BSE Sensex surged 684.64 points (1.20 per cent) to end at 57,919.97 while the Nifty 50 climbed 171.35 points (1.01 per cent) to settle at 17,185.70.

Stock Market | Share Market | Sensex | Nifty

Stock Market Today News Update: Staffs working at a Kolkata-based stock broking agency. (Express photo by Partha Paul)

Market Today, BSE Nifty Share Price, October 14, 2022: The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended over 1 per cent higher on Friday led by gains in information technology (IT) and financial stocks amid positive cues in the global market.

The S&P BSE Sensex surged 684.64 points (1.20 per cent) to end at 57,919.97 while the Nifty 50 climbed 171.35 points (1.01 per cent) to settle at 17,185.70. Earlier in the day, both the indices had opened over 1.5 per cent higher and surged around 2 per cent in the intraday trade with the BSE benchmark hitting a high of 58,435.12 and the broader Nifty touching 17,348.55.

On the Sensex pack, Infosys was the top gainer of the day after rising 3.8 per cent. It was followed by HDFC twins – HDFC Bank and Housing Development Finance Corporation (HDFC), HCL Technologies, Larsen & Toubro (L&T) and ICICI Bank. On the other hand, Mahindra & Mahindra (M&M), Asian Paints, Reliance Industries (RIL), Wipro, Bharti Airtel and Power Grid Corporation of India were the top laggards.

Among sectors, the Bank Nifty surged 1.76 per cent and the Nifty Financial Services index rallied 1.82 per cent. The Nifty IT too rose 1.63 per cent.

In the broader markets however, the mid-cap and small-cap indices ended on a flat note. The S&P BSE MidCap slipped 31.07 points (0.13 per cent) to close at 24,709.86 while the S&P BSE SmallCap inched up 2.30 points (0.01 per cent) to settle at 28,522.85. On NSE, the volatility index or India VIX slumped 10.01 per cent to 18.26.

“The domestic market showed an uptick, in-line with the surprise bounce in the US market. Initially, the US market fell because the data exceeded the forecast. However, it recovered quickly, due to the oversold state of the market. The rally in the domestic market was led by large caps, with IT and banking at the forefront due to the robust start to Q2 earnings. The rally can continue in the short-term led by festival demand, Q2 results and positive trend of the global market,” said Vinod Nair, Head of Research at Geojit Financial Services.

Global Market (from AP)

Global stock markets surged Friday after Wall Street rebounded from a slump caused by higher-than-forecast inflation numbers. Market benchmarks in London and Paris opened up more than 1 per cent. Tokyo jumped 3.3 per cent for its biggest one-day gain in seven months. Hong Kong and Shanghai also rose.

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On Wall Street, the future for the benchmark S&P 500 index was down 0.4 per cent. Wall Street slumped Thursday after the US consumer price index for September rose 8.2 per cent.

In early trading, the FTSE 100 in London rose 0.6 per cent to 6,894.30 and the CAC 40 in Paris gained 0.8 per cent to 5,925.44. The DAX in Frankfurt advanced 0.5 per cent to 12,420.24. On Wall Street, the future for the Dow Jones Industrial Average was down 0.3 per cent.

In Asia, Tokyo’s Nikkei 225 jumped to 27,090.76 and the Hang Seng in Hong Kong gained 1.2 per cent to 16,587.69. The Shanghai Composite Index added 1.8 per cent to 3,071.99. The Kospi in Seoul rose 2.3 per cent to 2,212.55 and Sydney’s S&P-ASX 200 rose 1.8 per cent to 6,758.80. New Zealand and Southeast Asian markets also rose.