Sensex Rises 750 Points, Nifty Above 24,100; Pharma Index Up Over 2%

The BSE and NSE benchmark indices rose after a flat opening on Friday. The market’s gains were primarily driven by healthcare stocks and shares from the Adani group.

As of the latest update, the BSE Sensex is up by over 650 points, hovering around the 79,700 mark, while the NSE Nifty is trading near the 24,100 level.

Following yesterday’s sharp sell-off, investors are likely to remain nimble footed in today’s trading session, with focus on GDP numbers and Asian markets. On Thursday, the Sensex and the Nifty dipped up to 1.5 per cent each amid the monthly F&O expiry and concerns following a wide-spread attack by Russia on Ukraine energy-related infrastructure.

BSE Announces New Expiry Day for Derivatives Contracts

The Bombay Stock Exchange (BSE) has announced a change in the expiry day for its key weekly and monthly derivatives contracts, including Sensex, Bankex, and Sensex 50. The expiry day will shift from Friday to Tuesday, starting from January 1, 2025. Under the current schedule, the Sensex contracts for the November series will expire today.

Additionally, in a significant development for the markets, the Securities and Exchange Board of India (SEBI) has proposed the implementation of interoperability across stock exchanges for various segments, including cash, derivatives, currency, and interest rate derivatives. This change is expected to take effect from April 1, 2025.

Global Market Cues

Asian markets saw a dip on Friday, with the yen on track for its best weekly performance in four months, supported by strong inflation data that has led traders to anticipate an imminent rate hike from the Bank of Japan.

Japan’s Nikkei fell by 0.7%, with the yen strengthening following the release of Tokyo’s inflation data. Core consumer prices in Japan’s capital surged in November, remaining above the Bank of Japan’s 2% target, signaling broadening price pressures. The US dollar dropped 0.9% to 150.17 yen, marking a 3% weekly loss—the biggest since late July.

In other Asian markets, the Kospi plunged 1.7%, while Taiwan and the Hang Seng indexes each lost about 0.3%. However, China’s Shanghai Composite saw a slight gain of 0.2%.

US markets were closed on Thursday for the Thanksgiving holiday, but trading will resume tonight with a shortened session.