Sensex ends 900 points higher, Nifty over 23,100; Airtel gains 4%

The S&P BSE Sensex jumped 899.01 points to close at 76,348.06, while the NSE Nifty50 added 283.05 points to end at 23,190.65. 

Benchmark stock market indices closed higher after Dalal Street experienced a bull run on Thursday, as market sentiment was buoyed by US Fed decision. The Sensex and Nifty gained over 1% led by gains in auto and IT sector stocks.

The S&P BSE Sensex jumped 899.01 points to close at 76,348.06, while the NSE Nifty50 added 283.05 points to end at 23,190.65.

Aditya Gaggar Director of Progressive Shares said that the Index began the weekly expiry trade with a strong opening, building on its positive momentum.

All market segments ended the day in the green, with the Auto and FMCG sectors leading the way. In today's trade, buying was largely seen in Index based stocks which resulted in an underperformance by the Mid and Smallcap segments. On the daily chart, Index has formed another bullish candle, breaking out from a Falling Wedge Formation, signaling a shift in trend towards the positive. However, on the hourly chart, the Index is in an overbought zone, suggesting that some sideways or corrective movement may occur. The immediate resistance is at 23,320, while the support level is at 23,000.