Sensex, Nifty rebound over 2% from intraday lows

The Indian equity indices rebounded from intraday lows in a highly volatile session on Friday, driven by gains in auto, banking, telecom, and FMCG stocks.At close, the Sensex was up 843.16 points or 1.04 percent at 82,133.12, and the Nifty was up 219.60 points or 0.89 percent at 24,768.30.
According to information, BSE Sensex and Nifty50 bounced back more than 2 percent from the day's low amid ease in retail inflation and three-month high industrial growth at 3.5 percent in October.For the week, BSE Sensex added 0.7 percent and Nifty rose 0.4 percent.
Bharti Airtel, Kotak Mahindra Bank, ITC, UltraTech Cement, HUL were the top gainers on the Nifty, while losers included Shriram Finance, IndusInd Bank, Tata Steel, Hindalco, JSW Steel.BSE Midcap and Smallcap indices ended on a flat note. On the sectoral front, auto, bank, FMCG, telecom rose 0.5-2 percent, while realty, metal and media shed 0.5 percent each.
Market This Week:
●Friday’s big surge intra-day helps market turn positive for the week,
●IT Stocks lend support to market, Nifty IT index up nearly 7 percent in 2 weeks,
●Sensex & Nifty gain 0.4 percent each, Nifty Bank up 0.1 percent & Midcap index up 0.5 percent,
●PSU Banks & FMCG stocks were amongst major drags this week
Rupee Close:
On 13 Dec'24,the Indian rupee rebounded from its all-time low level and settled with a gain of 10 paise at 84.78  against the U.S. dollar on Friday, buoyed by a strong recovery in domestic equity markets and easing inflation data.However, a strengthening American currency overseas and foreign fund outflows restricted the positive bias in the local unit, forex traders reportedly stated.
Trading Guide:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,the domestic market smartly recovered from the day’s low and moved out of the consolidation path led by index heavyweights. A gradual easing in food inflation and a price hike by FMCG companies, along with a recent correction in valuation, supported the sector to outperform. Currently, the market is anticipating a revival in consumer spending, driven by the festive season and year-end holidays, adding to the sentiments. Additionally, expectation of an increase in US spending is propelling the IT sector. Market experts have recommended five shares to buy- Zomato, TTML, Hindustan Aeronautics Ltd, Firstsource Solutions, and E.I.D-Parry (India) Ltd.

(Business Correspondent)