Share Market: Share market jumped in early trading, Sensex rose 418 points.
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Both major indices of the domestic stock market jumped in early trade on Friday due to better than expected GDP data and fresh foreign fund inflows. Apart from this, the rise in global markets also strengthened the trading sentiment in the stock markets.
In early trade, the 30-share BSE Sensex jumped 417.77 points to reach 72,918.07. Nifty rose 142.85 points to 22,125.65. Among the Sensex companies, Tata Steel, Tata Motors, JSW Steel, Mahindra & Mahindra, Larsen & Toubro, Power Grid, IndusInd Bank, Maruti, NTPC and ICICI Bank were the major gainers.
On the other hand, shares of HCL Technologies, Infosys, Hindustan Unilever and Asian Paints declined. The major reason behind the rise in early market trading was the announcement of GDP growth rate of 8.4 percent in the October-December quarter.
This figure released on Thursday is the highest quarterly increase in the last one and a half years. Global oil benchmark Brent crude fell 0.07 percent to US$83.62 per barrel.
In other markets of Asia, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng were trading higher. American markets closed with gains on Thursday.
According to stock market data, foreign institutional investors (FIIs) became buyers on Thursday and made a net purchase of shares worth Rs 3,568.11 crore.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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