Stock Market Live Updates: Sensex and Nifty rebound after three-day slump, tracking Asian gains

Sensex, Nifty updates on 19 January 2024: After a three-day slump, India’s benchmark indices, Sensex and Nifty, rebounded on Friday, mirroring gains in Asian markets driven by positive economic data. The BSE Sensex surged 572.24 points to 71,759.10, and the NSE Nifty gained 160.70 points, reaching 21,622.95 in early trade. Both indices had retreated around 3% from Tuesday’s peak, impacted by HDFC Bank’s weakened shares and uncertainty about early U.S. rate cuts. The week marked potential worst performances since October’s end with losses nearing 2% each. While Wall Street closed higher, doubts lingered about an imminent rate cut in the Federal Reserve’s March meeting. Investors await results from Nifty 50 constituents Reliance Industries and Ultratech Cement. Foreign institutional investors sold Indian shares worth a net Rs 9,902 crore on Thursday, while domestic institutional investors purchased shares worth Rs 5,977 crore. Read More | Source: The Hindu Business Line