Sensex jumps 441 pts; Nifty closes above 21,850

The benchmark indices ended with significant gains on Friday. The Nifty closed above 21,850 level. The barometer index, the S&P BSE Sensex gained 440.33 points or 0.61% to 72,085.63. The Nifty 50 index added 156.35 points or 0.72% to 21,853.80.

In the broader market, the S&P BSE Mid-Cap index advanced 0.80% and the S&P BSE Small-Cap index rose 0.49%.

The market breadth was positive. On the BSE, 2,037 shares rose and 1,810 shares fell. A total of 96 shares were unchanged.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 1.67% to 14.70.

Among the sectoral indices, Nifty Oil & Gas index (up 3.58%), the Nifty Metal index (up 2.37%) and the Nifty IT index (up 2.16%) outperformed the Nifty50 index.

Meanwhile, the Nifty Private Bank index (down 0.74%), the Nifty Bank index (down 0.47%), and the Nifty Financial Services index (down 0.40%) underperformed the Nifty 50 index.

Numbers to Track:

The yield on India's 10-year benchmark federal paper dropped 0.20% to 7.050 as compared with the previous close of 7.064.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.9100, compared with its close of 82.9800 during the previous trading session.

MCX Gold futures for 5 February 2024 settlement declined 0.73% to Rs 63,200.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, shed 0.10% to 102.95.

The United States 10-year bond yield gained 0.57% to 3.882.

In the commodities market, Brent crude for March 2024 settlement shed 67 cents or 0.85% to $79.37 a barrel.

Global Markets:

European stocks advanced while Asian stocks ended mixed on Friday, mirroring Wall Streets rebound from the sell-off earlier this week after US Fed Chairman Jerome Powell indicated the U.S. Federal Reserve was unlikely to cut rates in March.

US stocks rebounded on Thursday as investors looked to a spate of high-profile earnings and the Friday's employment report.

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