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Business News/ Markets / Live Blog/  Sensex Today | Market Closing Highlights: Sensex ends up 400 pts, Nifty above 21,600; FMCG, metal stocks top gainers
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Sensex Today | Market Closing Highlights: Sensex ends up 400 pts, Nifty above 21,600; FMCG, metal stocks top gainers

1 min read . Updated: 19 Jan 2024, 03:51 PM IST
Pranay Prakash

Sensex Today | Market Closing Highlights: India's benchmark indices closed higher on Friday, after three days of losses, aided by a rebound in IT stocks and tracking gains in global peers. Asian shares were higher as chipmakers rallied 

Sensex Today | Market Closing: India's benchmark indices closed higher on Friday, after three days of losses, aided by a rebound in IT stocks and tracking gains in global peers.Premium
Sensex Today | Market Closing: India's benchmark indices closed higher on Friday, after three days of losses, aided by a rebound in IT stocks and tracking gains in global peers.

Sensex Today | Market Closing Highlights: India's benchmark indices closed higher on Friday, after three days of losses, aided by a rebound in IT stocks and tracking gains in global peers. Broader markets, including midcaps and smallcaps, too, ended the day in the green.

The Sensex closed 496.37 points, or 0.70% up, at 71,683.23, and the Nifty closed 160.15 points, or 0.75% to at 21,609.50.

Benchmark indices, Sensex and Nifty, lost nearly 3% in the last three sessions, with the bulk of the decline led by top private lender HDFC Bank after it reported weak margins for the third quarter.

Asian shares bounced on Friday, buoyed by a rally in regional chipmakers.

Taipei-listed shares of Taiwan Semiconductor Manufacturing surged 5.0% after the chipmaking giant projected 2024 revenue growth of more than 20%. Its US shares soared nearly 10% overnight, fuelling a tech rally on Wall Street.

The main supplier of chips to Apple Inc. and Nvidia Corp. said it sees a return to solid growth this quarter as it moves ahead with plans for plants in Japan, Arizona and Germany. 

Treasuries and the dollar steadied as investors paused following this week’s frenetic repricing of the outlook for Federal Reserve interest-rate policy. Traders see the prospect of a rate cut in March at little more than a coin toss, down from almost 80% at the end of last week after hawkish Fedspeak and data indicating the American consumer remains resilient.

Broadly, stock traders were unfazed by data underscoring US labour-market strength at a time when Fed officials are looking for signs of a slowdown as they contemplate cutting rates.

Coming off its best weekly winning streak in two decades, the S&P 500 has run into a roadblock in 2024, with its all-time closing record set two years ago remaining elusive. But a technical gauge that measures the momentum to buy or sell stocks signals that bulls are still stepping in to snap up shares.

Elsewhere, oil was steady after closing at a three-week high on escalating tensions in the Middle East, with the US and the Iranian-backed Houthis trading tit-for-tat strikes that have upended the global shipping market.

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