The BSE gauge Sensex surged over 700 points to revisit the key 58,000 level in opening deals on Friday as participants bought over the counters.
The 30-share index jumped 723.55 points 1.26% to 58,000.49 in early trade.
Similarly, the NSE Nifty rose 217.45 points or 1.27% to 17,327.60 in early trade.
On the Sensex chart, except Maruti, all the shares were trading with light to heavy gains.
Foreign institutional investors (FIIs) remained net sellers in the capital market, with sales of Rs 6,266.75 crore on Thursday, according to official exchange data.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said: “There are three trends in the market that are important from the investors point of view. One, the emergence of massive sell-offs by FIIs (around ₹33,000 crore in January so far) Strongest headwind for the market in the short term.” “Two, Nifty is witnessing massive churn from tech to banking and to some extent auto. Third, overvalued growth stocks are being penalized and their valuations are slowly approaching realistic levels,” he said. is,” he said.
Elsewhere in Asia, exchanges saw a mixed trading pattern, with only China and Japan trading higher in mid-afternoon deals. Other exchanges posted losses.
Meanwhile, international oil benchmark Brent crude fell 0.38% to $89.74 a barrel.
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