Indian stock markets, led by an impressive over 8 per cent surge in Bajaj Finance following robust Q1 FY27 earnings, continued their upward trajectory for the third consecutive day, buoyed by foreign fund inflows and easing crude oil prices.
Key Points
- Indian benchmark indices, Sensex and Nifty, extended their rally for a third consecutive day, closing higher on Friday.
- Bajaj Finance shares surged over 8 per cent after reporting a 28 per cent year-on-year rise in consolidated profit after tax for the June quarter of FY27.
- Foreign Institutional Investors (FIIs) remained net buyers, injecting Rs 3,623.51 crore into equities on Thursday.
- A decline in Brent crude oil prices, which climbed 0.45 per cent to $89.43 per barrel, also contributed to the positive market sentiment.
- Global market trends were largely positive, with Asian and European markets, as well as US markets, ending in the green.
Stock market benchmark indices Sensex and Nifty ended higher for the third day on Friday, tracking a sharp rally in Bajaj Finance, foreign fund inflows and a decline in crude oil prices.
The 30-share BSE Sensex climbed 166.49 points, or 0.21 per cent, to settle at 78,094.64. During the day, it jumped 344.1 points, or 0.44 per cent, to 78,272.25.
The 50-share NSE Nifty gained 66.45 points, or 0.27 per cent, to end at 24,383.60.
Bajaj Finance's Strong Performance
From the Sensex pack, Bajaj Finance jumped 8.11 per cent after the firm on Thursday reported a 28 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 6,081 crore for the June quarter of FY27, driven by growth in core income and improvement in asset quality.
Bajaj Finserv, Mahindra & Mahindra, Adani Ports, Tata Steel, Reliance Industries, Bharat Electronics and Titan were also among the winners.
Tata Consultancy Services, Eternal, Infosys, ITC and InterGlobe Aviation were among the major laggards.
FII Inflows and Market Outlook
Foreign Institutional Investors (FIIs) bought equities worth Rs 3,623.51 crore on Thursday, according to exchange data.
"Positive momentum continued, although some profit booking emerged at higher levels as caution persisted amid elevated yields and potential rate-hike concerns. The sustainability of the recovery will depend largely on the ongoing earnings season, which is currently outperforming forecasts, and on a reduction in global risks," Vinod Nair, Head of Research, Geojit Investments Limited, said.
The domestic IT index witnessed profit booking following its recent rally, he added.
Global Market Trends
Brent crude, the global oil benchmark, climbed 0.45 per cent to $89.43 per barrel.
In Asian markets, South Korea's KOSPI rebounded sharply and jumped 17.91 per cent. Japan's Nikkei 225, Shanghai's SSE Composite index and Hong Kong's Hang Seng index also ended in the positive territory.
Markets in Europe were trading in the green. US markets ended significantly higher on Thursday.
