The benchmark equity indices on the BSE and the National Stock Exchange (NSE) settled higher for the second consecutive day after they ended over 1 per cent higher on Thursday led by gains in the shares of information technology (IT) and automobile stocks.
The S&P BSE Sensex rallied 429.25 points (1.21 per cent) to end at 35,843.70, while the broader Nifty settled at 10,551.70, rising 121.65 points (1.17 per cent). Both the topliners had opened around 0.7 per cent higher earlier in the day and inched further as the day progressed.
On Wednesday, the Sensex had surged 498.65 points (1.43 per cent) to end at 35,414.45, while the Nifty had settled at 10,430.05, up 127.95 points (1.24 per cent).
On the Sensex, Mahindra & Mahindra (M&M), Titan Company, HCL Technologies, Tata Steel, Infosys and Tata Consultancy Services were the top gainers of the day, while Axis Bank, Hindustan Unilever (HUL), Kotak Mahindra Bank, ICICI Bank, Bharti Airtel and NTPC were the biggest losers on Thursday. (see heatmap below)
Among the sectoral indices on the NSE, the Nifty Auto index was the top performer of the day rising 2.81 per cent driven by gains in the shares of Motherson Sumi Systems, M&M, Bosch and Hero MotoCorp. It was followed by the Nifty IT index which climbed 2.65 per cent led by HCL Tech, Infy and TCS.
Here’s how the sectoral indices performed:
In the broader market, the S&P BSE MidCap index ended at 13,215.04, up 136.58 points (1.04 per cent), while the S&P BSE SmallCap settled at 12,543.45, up 114.80 points (0.92 per cent).
“The Indian indices traded in sync with global cues and ended the day with gains. The gains were supported by IT and auto indices. Global indices were positive following news of encouraging trials of a vaccine being developed for the virus. Global markets are awaiting US employment figures, due out later today, to see the progress of the US economy and its resultant impact on global economic growth. Indian benchmark indices have sustained their momentum while upsides seem to be limited. Investors are advised to watch out for any signs of trend reversal and keep booking short term profits,” Vinod Nair, Head of Research at Geojit Financial Services, said in a statement after the market hours.
The rupee appreciated 56 paise to settle at 75.04 (provisional) against the US dollar on Thursday tracking weakness in the greenback and gains in the domestic equity market.
Forex traders said positive domestic equities and weak US currency supported the local unit. Moreover, investor sentiment strengthened after Pfizer reported encouraging vaccine test results.
The rupee opened at 75.51 against the US dollar, gained further ground and finally closed for the day at 75.04 against the US dollar, up 56 paise over its previous close.
It had settled at 75.60 against the greenback on Wednesday.
In highly volatile trade, the domestic unit witnessed an intra-day high of 74.99 and a low of 75.53.
World stocks rose for a fourth straight day on Thursday as encouraging coronavirus vaccine trials kept investors’ spirits up ahead of what was expected to be a record rebound in US jobs figures later.
Despite the ongoing rise in global virus cases, Asian equity markets saw their biggest daily rise in over two weeks overnight, aided by news that a vaccine being trialled by Pfizer and Germany’s BioNTech had been well tolerated in early-stage human tests.
Europe made a strong start, with banking, travel and carmaker stocks driving 1-2 per cent gains for its main bourses, and the euro helped back up towards $1.13 by another drop in the dollar.
All major Asian indexes had been upbeat. Japan’s Nikkei rose only fractionally, but China’s blue-chip index added 2 per cent and Hong Kong’s Hang Seng jumped 2.8 per cent as investors brushed off concerns over sweeping new security laws introduced by Beijing.
– rupee input from PTI, global market input from Reuters
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