Market Rebounds: Sensex and Nifty Surge After 3-Day Dip

19 Jan 2024 , 01:31 PM

After a three-day decline, both Sensex and Nifty experienced a strong rebound on Friday. At the time of writing, Sensex was trading at Rs 71,649 which is a 0.65% hike from the previous close. Whereas Nifty was trading at Rs 21,602 which is a 0.65% increase than previous close.

Ultratech, a major cement player, reported a robust net profit of Rs 1,777 crore for the quarter ending December, marking a substantial 68% increase from the same period last year.

The company’s revenue from operations in Q3 grew by 8% YoY to Rs 16,740 crore, compared to Rs 15,521 crore in the corresponding quarter of the previous year.

Gold prices declined on Friday, heading for their worst week in six, influenced by a strengthening dollar and bond yields following U.S. central bankers’ resistance to early interest rate cuts.

Spot gold dipped 0.1% to $2,020.79 per ounce, resulting in a 1.4% decline for the week. 
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