Markets Rebound: Sensex and Nifty Surge Amidst Gains in Pharma Energy and Auto Stocks
The Indian stock market staged a powerful comeback on Friday, October 29, as the final trading session of the November series closed with impressive gains. Bolstered by robust performances in pharmaceutical, infrastructure, energy, and automobile sectors, both major indices – the BSE Sensex and NSE Nifty – ended the day on a high note.
The BSE Sensex soared by 759.05 points (0.96%) to close at 79,802.79, recovering sharply after Thursday steep losses. Similarly, the NSE Nifty surged by 216.95 points (0.91%), closing at 24,131.10. This recovery followed Thursday disappointing session, where the Sensex dropped by 1,190.34 points (1.48%) to 79,043.74, and Nifty fell by 360.75 points (1.49%) to 23,914.15.
Sector Leaders and Top Performers
Out of the 30 companies on the BSE Sensex, 27 recorded significant gains, with Bharti Airtel leading the charge. The telecom giant shares jumped 4.30% to close at ₹1,627.45. On the NSE, Bharti Airtel also saw a 4.40% rise, closing at ₹1,629.
Conversely, PowerGrid was among the day underperformers, with its shares falling 1.23% to ₹329.60 on the BSE and 1.35% to ₹329.15 on the NSE.
In broader market performance, out of 2,870 NSE stocks, 1,742 stocks advanced, while 1,043 declined, and 85 remained unchanged.
Global Markets: Mixed Signals
Elsewhere in Asia, stock markets presented a mixed picture. Japan’s Nikkei 225 and South Korea’s Kospi closed with losses, while China’s Shanghai Composite and Hong Kong’s Hang Seng indices posted gains.
European markets also exhibited strength after Thursday declines. On the commodities front, the global oil market saw a dip in Brent crude prices, which fell 1.29% to $72.12 per barrel.
Looking Ahead
The sharp rebound in the domestic market highlights investor optimism and sector-specific recovery, with momentum building in pharma, energy, and auto stocks. Analysts suggest keeping an eye on global cues and oil prices, as these factors could influence market dynamics in the upcoming sessions.
