Sensex, Nifty Rally As US Recession Worries Ease

(RTTNews) - Indian shares followed global peers higher on Friday after new data showed first-time claims for U.S. unemployment benefits pulled back by more than expected in the week ended August 3rd, helping ease concerns about the strength of the labor market.

The benchmark S&P/BSE Sensex jumped 819.69 points, or 1.04 percent, to 79,705.91, with buying seen across the board.

The broader NSE Nifty index settled 250.50 points, or 1.04 percent, higher at 24,367.50 while the mid-cap and small-cap indexes on the BSE ended up 1.2 percent and 0.8 percent, respectively.

Among the prominent gainers, Tech Mahindra, Tata Motors, Shriram Finance, Mahindra & Mahindra and Eicher Motors surged 3-6 percent.

Shares of Ola Electric Mobility saw a flat debut on the bourses before surging to hit the 20 percent upper circuit limit and close at Rs 91.18 on the BSE and Rs. 91.20 on the NSE.