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Sensex Ends 281 Points Higher, Nifty Reclaims 11,050: Highlights

BSE Sensex today: The Sensex index moved in a range of 413.41 points, before settling at 37,384.99
BSE Sensex today: The Sensex index moved in a range of 413.41 points, before settling at 37,384.99

Domestic stock markets registered sharp gains in the final hours of trade on Friday, supported by a surge in banking, auto and metal stocks. The S&P BSE Sensex - which switched direction at least eight times during the session after opening higher - moved in a range of 413.41 points, before settling with a gain of 280.71 points at 37,384.99 for the day. The broader NSE Nifty 50 benchmark recovered as much as 138.7 points from an intraday low of 10,945.75 to touch 11,084.45 at the day's strongest level, before shutting shop at 10,982.80. Buying across sectors except pharmaceuticals shares supported the sharp recovery in the markets, after a session marked with high volatility for the most part. The gains came a day after official data showed consumer inflation accelerated to 3.21 per cent in August - the highest level recorded since October 2018, fuelling hopes of further monetary easing by the central bank. Separate data showed growth in industrial production was at 4.3 per cent in July, as against 2 per cent the previous month. Analysts say the latest macroeconomic data leaves room for a rate cut in the Reserve Bank of India's next bi-monthly review due in October.

Here are the highlights of the movement in domestic share markets (Sensex and Nifty) today: