The Nifty 50 jumped 2.12% at 22,859.35, while the BSE Sensex surged 1.99% to 75,319.35, snapping its one-day losing streak. The rally was partly a catch-up move, as domestic markets had remained shut on Thursday for Mahavir Jayanti, missing out on a sharp rebound seen in Asian markets a day earlier.
Nifty Metal and Nifty Pharma advanced the most. All of the 15 Nifty sectoral indices traded in the green, with FMCG leading the pack.
NDTV Profit picked up the following cues from dealing room chatter during trade:
Bajaj Finance
There's speculation on the street about a potential bonus issue announcement. The last time Bajaj Finance declared a bonus was in 2016, in a 1:1 ratio.
ICICI Prudential Life Insurance And ICICI Lombard
Both stocks witnessed sell flows from foreign institutional investors ahead of their fourth quarter earnings. The street is bracing for weaker-than-expected results from both companies. The shares of both the companies fell nearly 3% on Friday.
Sai Life Sciences And Medanta
A block deal is anticipated soon in both counters. Specifically, in Sai Life, there is talk of a large private equity investor looking to offload a part of their stake. The shares of both Sai Life and Medanta were trading nearly 5% higher.
Ramky Infrastructure
Strong buying interest was observed on a large HNI desk. Market participants expect the company to soon announce a significant order win related to a water project.
Disclaimer: The mentioned stocks capture NDTV Profit's dealing room channel checks during trading hours. The information provided is for informational purposes. However, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, or suitability of the information. This content does not constitute financial, investment, or trading advice and should not be construed as a recommendation to buy, sell, or hold any securities.
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