Sensex gains 1,600 points as Modi 3.0 government nears formation
What's the story
On Friday, the stock market closed in the green as NDA announced to form the government. The Sensex soared 2.16% to 76,693.36 points, while the Nifty gained 2.05% to 23,290.15 points. The midcap stocks were also in a bullish mode as the Nifty Midcap 50 gained 228.15 points to close at 14,952.4 points. Read on for more details on Friday's market report.
Market results
Who were the biggest gainers and losers?
On Friday, NIFTY IT, NIFTY AUTO, and NIFTY ENERGY emerged as the top-performing sectors, rising 3.26%, 2.49%, and 2.34%, respectively. M&M, Wipro, and Tech Mahindra emerged as the top performing stocks, edging up 5.84%, 5.11%, and 4.57%, respectively. Coming to the top losing stocks, SBI Life Insurance and Tata Consumer Products emerged the biggest losers, dropping 1.18% and 0.37%, respectively.
Data
Take a glance at the global markets
Among the Asian markets, both Hang Seng Index and Nikkei ended in green, advancing to 18,366.95 points and 38,683.93 points, respectively. Meanwhile, in the US market, NASDAQ closed on a negative note, shedding 0.09% to 17,173.12 points.
Commodities
INR goes up 0.12% against US dollar
The Indian rupee (INR) gained against the US dollar, rising 0.12% to ₹83.38 in forex trade on Friday. The prices of both gold and silver futures witnessed a decline, with the former slipping 1.39% and the latter shedding 1.92% to settle at ₹72,116 and ₹92,018, respectively. The crude oil futures were trading flat to settle at $75.7 per barrel.