The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended around 1.5 per cent higher on Friday aided by gains in banking, financial and automobile stocks.
The S&P BSE Sensex surged 548.46 points (1.50 per cent) to settle above the 37,000-mark at 37,020.14, while the broader Nifty 50 ended above the 10,900-mark at 10,901.70, climbing 161.75 points (1.51 per cent).
On the Sensex, the gains on Friday were led by Oil and Natural Gas Corporation (ONGC), Titan Company, Reliance Industries (RIL), HDFC Bank, Mahindra & Mahindra (M&M) and Bajaj Finance. However, Tata Consultancy Services (TCS), Nestle India, Infosys, HCL Technologies and Axis Bank ended in the red. (see heatmap below)
Among the sectoral indices, the Nifty Financial Services index was the best performer on Friday, rising 1.94 per cent led by HDFC Bank, Bajaj Finance and Mahindra & Mahindra Financial Services. The key Nifty Bank index gained 1.71 per cent aided by IDFC First Bank, HDFC Bank and Bandhan Bank. Separately, the Nifty Auto index also rose 1.73 per cent driven by MRF, Ashok Leyland and Tata Motors.
Here’s how the sectoral indices performed:
In the broader market, the S&P BSE MidCap index rose 206.77 points (1.55 per cent) to end at 13,530.75, while the S&P BSE SmallCap settled at 12,782.53, up 140.27 points (1.11 per cent).
“Markets gained strength towards the end of the session, led by Financials and Energy stocks. Global markets were lacklustre as an EU summit to discuss a post-pandemic recovery fund is underway. The markets globally are banking on continued liquidity to ensure that the recent momentum seen in the markets does not stall. Indian stocks are seeing earnings specific moves while the ever-present possibility of another lockdown has done little to affect the sentiment,” Vinod Nair, Head of Research at Geojit Financial Services, wrote in a post-market statement.
The rupee appreciated 16 paise to close at 75.02 (provisional) against the US dollar on Friday tracking positive domestic equities and weakening American currency.
At the interbank forex market, the domestic unit had opened on a weak note but soon recouped the losses amid high volatility and finally settled for the day at 75.02 against the US dollar, gaining 16 paise over its previous close.
It had settled at 75.18 against the US dollar on Thursday.
During the session, the rupee witnessed an intra-day high of 74.98 and a low of 75.25 against the US dollar.
Europe’s stock markets and fast charging currencies were left treading water on Friday, as EU leaders met in Brussels to try to hammer through a 750 billion euro post-pandemic recovery fund.
European and world equity markets were heading for their third weekly gain in a row, but they were the smallest yet and Friday’s go-slow involved all the main asset classes from commodities to bonds.
London’s FTSE, Paris, Milan and Madrid had all sagged into the red in early trading and though the euro ticked up, Italian and Spanish bond yields were struggling to stay anchored to their recent lows.
In Asia, Japan’s Nikkei slid 0.3 per cent on concerns about rising virus infections in Tokyo. China’s CSI300 index climbed 0.25 per cent, though that was after a near 5 per cent slump on Thursday.
– rupee input from PTI; global market from Reuters
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines