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Sensex Jumps Over 350 Points, Nifty Crosses 10,850: 10 Things To Know

Heavyweights HDFC, HDFC Bank, Reliance and ICICI Bank contributed the most to the gains on the Sensex.
Heavyweights HDFC, HDFC Bank, Reliance and ICICI Bank contributed the most to the gains on the Sensex.
  1. At 10:14 am, the 30-share Sensex traded at 36,143.72, up 336.44 points or 0.94 per cent from the previous close, and the Nifty was at 10,873.20, up 93.40 points or 0.87 per cent.
  2. Top gainers on the 50-scrip index were Sun Pharma, Yes Bank, Titan,  United Phosphorus Ltd and JSW Steel, trading between 2.1 and 3.2 higher. Heavyweights HDFC, HDFC Bank, Reliance and ICICI Bank contributed the most to the gains on the Sensex.
  3. Analysts expect some more volatility in the markets going forward.
  4. "State election, global cues and crude oil price movement have kept the market busy. However, market has seen good recovery since Nifty hit the month's low on state election result day," said Rahul Mishra, AVP (derivatives), Emkay Global Financial Services.
  5. Equities in other Asian markets advanced after Wall Street ended a volatile session higher overnight, adding to the big advances of the previous session, although lingering investor jitters helped support safe-haven currencies such as the yen. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent. It has fallen almost 4 per cent so far in December.
  6. Indices were also boosted by rise in rupee against dollar. The rupee strengthened by 30 paise at 70.05 against dollar on Friday. Weakness in the dollar overseas and a sharp fall in crude oil prices supported the rupee.
  7. The dollar fell against major global currencies as investors turned their focus to safe-haven currencies amid renewed worries over US-China trade tensions and global economic growth. The dollar index, which measures the greenback against six major peers, fell 0.23 per cent. Crude oil pries rose over 2 per cent to trade above the $53-a-barrel mark on Friday, a day after plunging 4.2 per cent to $52.16 per barrel.
  8. Heavy foreign fund inflow also supported indices' sentiments on Friday. On a net basis, foreign portfolio investors (FPIs) purchased shares worth Rs 1,731.91 crore on Thursday, data from the NSE showed.
  9. On Thursday, government data showed the fiscal deficit in the April-November period standing at Rs. 7.17 lakh crore, or 114.8 per cent of the budgeted target for the fiscal year that ends in March.
  10. The Sensex had ended 157 points higher at 35,807 on Thursday, and the Nifty finished at 10,779, up 49 points - or 0.47 per cent - from the previous close. (With inputs from agencies)