Stock Market Today LIVE: The Indian stock market benchmark indices, Sensex and Nifty 50, extended rally to the seventh consecutive trading session on Friday, led by gains in private banks and pharma stocks, despite heavy losses in global equities.
The Sensex jumped 1,718.01 points, or 2.17%, to close at 81,028.02, while the Nifty 50 settled 493.75 points, or 2.01%, higher at 25,030.35. The Bank Nifty ended at 59,086.00, up 1,312.35 points, or 2.27%.
Broader markets underperformed the benchmark indices, as the Nifty Midcap 100 eased 0.02% and the Nifty Smallcap 100 indices declined 0.82%.
Among sectors, Nifty Pharma, Nifty Private Bank, Nifty Auto, Nifty FMCG, Nifty Metal and Nifty IT led the rally, while Nifty Media was the only to end in the red.
Global markets witnessed heavy selloff, as technology and chip stocks crashed on renewed concerns over artificial intelligence (AI) stocks. Asian markets tumbled, weighed down by semiconductor stocks. Japan’s Nikkei entered a bear market territory, while in the US, Nasdaq Composite plunged into correction territory on fears of tougher AI regulation.
