Stock Market Soars: Sensex Jumps 2,000 Points, Nifty Gains 590 Points

After several days of heavy decline, the stock market witnessed a significant rally today. During the session, the Sensex rose by 2,016 points, crossing the 79,150 mark. Similarly, the Nifty also experienced a substantial increase, climbing by 589 points to reach 23,950.

The rally was particularly pronounced in mid-cap and small-cap shares, alongside large-cap stocks. In terms of sectoral indices, the Bank Nifty rose by 1.31 percent, the Auto index by 1.05 percent, and Financial Services by 1.27 percent. The FMCG index increased by 1.29 percent, IT by 1.90 percent, Metal by 1.38 percent, Pharma by 0.82 percent, PSU Bank by 2.87 percent, Private Bank by 0.80 percent, and the Realty index by 2.76 percent. Additionally, sectors such as Oil and Gas, Consumer Durables, and Healthcare also experienced a rally. The only exception was the Media index, which remained in the red zone during the session. Notably, Reliance shares surged by 3.43 percent.

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Adani Group shares, which had recorded a significant decline on Thursday, made a strong comeback today. Following a 20 percent drop due to allegations against Gautam Adani in the US, there has been a substantial increase in buying activity for many companies within the group. With the exception of Adani Energy, shares of all other companies in the group are showing positive momentum.