Stock Market Update: Share Market Lose Steam After Morning's High Start Sensex Down By 350 Points

The benchmark equity indices opened Friday's trading session in positive territory, however it soon lost steam . The NSE Nifty 50 was up by 150 points or 0.61% at 24,286.25, while the BSE Sensex was up 460 points or 0.58% to 79,569. The broader indices were also in the positive territory. Bank Nifty index was up by 250 points or 0.48% at 49,968. The Nifty Midcap 100 was up almost 400 points or 0.71% at 56,945.

Shares of Wipro rose a bit over 3% to an intraday high of Rs 510.45 from its previous close of Rs 495.10. The stock was the top gainer in the Nifty 50. It touched its 52-week high of Rs 579.90 on July 19, 2024. This uplift followed U.S. economic data that eased recession fears in the world's largest economy, contributing to a global market rally.All the 13 major sectors logged gains, led by a rise in the IT index.Globally stock markets have turned around smartly from the August 5th sell off triggered by US recession fears and the unwinding of the yen carry trade. Latest data on US inflation and unemployment relief do not indicate an economy tipping into recession.