Rising for a third straight session, the BSE Sensex jumped over 186 points on Friday to close at a one-week high of 28,599.03 on across-the-board gains amid firm global cues on receding fears of a US interest rate hike.
Sentiment remained upbeat for the better part of the day on account of positive Asian cues, tracking overnight gains on the US bourses after another round of below-par US data dimmed expectations for a Federal Reserve rate hike this month.
Meanwhile, Finance Minister Arun Jaitley on Friday expressed hope that the RBI will keep in mind the decline in retail inflation while deciding on interest rates at its policy review meeting on October 4.
“FM’s review of quarterly performance of state-run banks talked up the chances of more capital infusion, lifting public sector banks stocks earlier in the day,” said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial.
However, almost half of the session’s gains were wiped-off on profit-booking at higher levels and a lower opening in the European markets.
For the week, both indices, Sensex and Nifty, posted first fall in three by slipping 198.22 points or 0.68 per cent, and 86.85 points or 0.97 per cent, respectively.
The 30-share Sensex zoomed 186.14 points or 0.66 per cent to close at 28,599.03, its highest closing since September 9, when it had closed at 28,797.25.
The NSE Nifty, which again went past the 8,800-mark to touch a high of 8,847.65 intra-day, failed to maintain its key levels and slipped to hit a low of 8,750.50 before closing 37.30 points, or 0.43 per cent, higher at 8,779.85.
Shares of state-run oil companies such as Indian Oil, BPCL and HPCL rose between 2.01 per cent and 0.73 per cent after the petrol price hike.
In line with the overall trend, small-cap index ended 0.15 per cent higher, but mid-cap index fell 0.32 per cent.
In regional markets, Japan’s Nikkei closed higher 0.70 per cent, while Singapore’s was up 0.78 per cent. Markets in Hong Kong, China, Taiwan and South Korea remained closed today for public holidays.
European stocks were trading lower weighed down by losses in financial sector. Key indices in France and Germany dropped by 0.30 per cent to 0.34 per cent, while the UK’s FTSE was quoted up by 0.03 per cent.
In the domestic market, 22 scrips out of the 30-share Sensex pack ended higher.
Maruti was the top-gainer from the sensex pack which rose by 2.25 per cent followed by Axis Bank 2.11 per cent, ITC 2.08 per cent, Infy 1.82 per cent, Hero MotoCorp 1.78 per cent, Adani Ports 1.70 per cent, Bajaj Auto 1.67 per cent, HDFC Bank 1.45 per cent, TCS 1.42 per cent and ONGC 1.39 per cent.
While, Tata Steel dropped by 2.14 per cent, Tata Motors 1.50 per cent, Asian Paints 1.23 per cent, ICICI Bank 1.15 per cent, HDFC 1.15 per cent and SBI 0.55 per cent.
Among the BSE sectoral indices, FMCG rose by 1.23 per cent followed by IT 1.22 per cent, Oil&Gas 1.14 per cent, Energy 1.10 per cent, Teck 0.99 per cent, Realty 0.59 per cent and Auto 0.58 per cent, while Metal fell by 1.27 per cent, Industrials 0.10 per cent and Finance 0.05 per cent.
The market breadth turned negative as 1,417 shares ended lower, 1,323 closed higher while 194 ruled steady.
The total turnover on BSE amounted to Rs 4,506.66 crore, higher than turnover of Rs 3,801.03 crore registered during the previous trading session.