Stock market recovers after early slide; LIC shares surge by 5 per cent - Hindustan Times
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Stock market recovers after early slide; LIC shares surge by 5 per cent

Feb 09, 2024 10:10 AM IST

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The stock market recovered after opening in the red on Friday, this day after the Reserve Bank of India decided to keep the policy rates unchanged. The BSE benchmark Sensex was 91 points up at 71,520. The NSE index Nifty was trading at 21,754.

The shares of Life Insurance Corporation were trading above 5 per cent high a day after hitting an all-time high.

Among the Sensex firms, Reliance Industries, Wipro, State Bank of India, Tata Consultancy Services, Bajaj Finance, Axis Bank, ICICI Bank and Tech Mahindra were the major gainers.

A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(REUTERS)
A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(REUTERS)

Bharti Airtel, Maruti, Mahindra & Mahindra, Infosys, HDFC Bank and Kotak Mahindra Bank were among the laggards.

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In Asian markets, Tokyo and Shanghai were quoting in the positive territory while Hong Kong traded lower.

The US markets ended in the green on Thursday.

Foreign Institutional Investors (FIIs) offloaded equities worth 4,933.78 crore on Thursday, according to exchange data.

The BSE benchmark fell by 723.57 points or 1 per cent to settle at 71,428.43 on Thursday amid uncertainty about the timing of interest rate reduction after the Reserve Bank of India's monetary policy decision. The Nifty declined by 212.55 points or 0.97 per cent to 21,717.95.

Global oil benchmark Brent crude climbed 0.09 per cent to USD 81.70 a barrel.

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