The Indian stock market saw a big boost on Friday as the Sensex jumped by 1,046 points, ending the day at over 82,400. This rise of 1.3% was mainly due to strong buying by foreign investors and traders covering their short positions. The Nifty index also went up by 244 points, or 1%, closing at 25,038.
Foreign investors, who were showing mixed interest earlier, became strong buyers on Friday, investing a net amount of ₹7,704 crore. In contrast, Indian domestic investors sold stocks worth ₹3,050 crore, according to BSE data.
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Experts say that the market picked up due to positive signals from Europe and gains in Dow Jones futures (a US index), which encouraged traders to buy more. Prashanth Tapse from Mehta Equities mentioned that although the market looked strong today, investors should still be careful. Global issues like the West Asia conflict could raise crude oil prices, which might cause problems for the stock market.
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By the end of the trading day, crude oil prices were near their four-month highs, with Brent crude at $76.7 per barrel and WTI crude just above $75.
Overall, the market’s rise on Friday increased investors’ wealth by nearly ₹5 lakh crore, taking the total value of all listed companies on the BSE to ₹447.7 lakh crore.
