Sensex leaps 1,128 points to reclaim 50,000, Nifty rises 338 points as it moves near 15,000-mark
Sensex and Nifty doubled in less than 11 months, touching record highs, while several stocks jumped manifold
Reversing last session's losses, the 30-share BSE Sensex ended 280.15 points or 0.56 per cent higher at 50,051.44
Participants shrugged off a spurt in Covid-19 cases in multiple states, though reimposition of localised lockdowns can pose a threat to economic recovery, traders said
The index rose close to 500 points on opening after the US Federal Reserve (Fed) pledged to shrug off inflation worries for a while and keep the monetary policy loose through 2023
All the sectoral indices ended the day in the red with the Nifty Realty, Metal, and PSU Bank indices dropping up to 3 per cent
Less than 1% of firms now account for 50% of BSE market cap
A weakening rupee and selling by foreign investors also weighed on Dalal Street, traders said
Sensex plunges 990 points before recovering
At the closing bell, the BSE gauge quoted 254.03 points or 0.50 per cent higher at 51,279.51 - taking its three-session gains to 874.19 points or 1.73 per cent
Investor sentiment was boosted after the futures markets indicated a strong opening on Wall Street
Market sentiment tracked global shares, which were mixed as initial optimism over the US Senate's passing of a $1.9 trillion stimulus bill gave way to inflation fears
Only HDFC Bank and SBI witnessed losses in their valuations
10-year US Treasury yield crosses 1.5% again following Powell's comments
So far, the stance of FIIs have been bullish as they ploughed in Rs 25,787 crore in the month of February post the Union Budget for FY22
Bajaj Finserv was the best-performing Sensex stock, rising 5.2 per cent; Reliance Industries and Bajaj Finance surged 4.5 per cent and 4.5 per cent, respectively
Whenever the stock price shows a reversal near the major moving averages, the turnaround is expected to be sharp, and the volumes tend to increase
Though some Asian markets pared gains after China's top banking regulator raised concerns over asset bubbles, the Indian markets outperformed
The progress in the US stimulus package and gross domestic product (GDP) growth in India for the quarter ended December 31, after two consecutive quarters of contraction, also helped sentiment
The Nifty Pharma index was down 1.76 per cent on Friday compared to a 568-point or nearly 3.8 per cent slide in the Nifty50 on weak global cues