Stock Market Highlights, May 10: Sensex snaps 3-day losing run, ends 260 pts up; Nifty reclaims 22K | News on Markets

Stock Market Highlights Friday, May 10: Equity benchmark indices witnessed a relief rally on Friday on the back of supportive global cues, with Reliance, ITC and Bharti Airtel doing the heavy lifting.

Globally, equity markets rallied with FTSE 100 hitting a new high as hopes of interest rate cut rose in Europe and the US. Two out of 9 Bank of England hinted of a possible rate cut in September, while weaker US economic data also bolstered hopes.

The S&P BSE Sensex touched a high of 72,946, and eventually ended 260 points higher at 72,664 – thus snapping its three-day losing streak. The BSE index, however, was down 1.6 per cent or 1,214 points for the week.

The NSE Nifty 50 reclaimed the psychological 22,000-mark, and settled 98 points higher at 22,055.

Bharti Airtel, Hindustan Unilever, Tata Motors, Titan, Maruti, Bajaj Finance, Reliance Industries and Sun Pharma also ended with notable gains.

On the flip side, TCS slipped 1.7 per cent. Infosys, Mahindra & Mahindra, HDFC Bank, HCL Technologies and Wipro were the other losers.

The broader market outperformed the benchmark indices. The BSE MidCap and SmallCap indices gained 0.9 per cent each.

The overall breadth too was positive, with nearly 2,200 stocks advancing as against 1,600 declining shares on the BSE.