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The frontline equity indices on the BSE and National Stock Exchange (NSE) continued their recovery for the second consecutive day, rising nearly 1 per cent amid a positive trend in the global markets.
The S&P BSE Sensex climbed 462.26 points (0.88 per cent) to end at 52,727.98 while the Nifty 50 rose 142.60 points (0.92 per cent) to settle at 15,699.25. Both the indices had opened around 1 per cent higher earlier in the day and traded in the positive territory throughout the session.
On the Sensex pack, Mahindra & Mahindra (M&M), IndusInd Bank, Bajaj Finance, Hindustan Unilever (HUL), ICICI Bank, Bharti Airtel, Reliance Industries (RIL), Tata Steel, Nestle India and HDFC Bank were the top gainers on Friday. In contrast, Tech Mahindra, Infosys, HCL Technologies, Tata Consultancy Services (TCS), Wipro and Sun Pharmaceutical Industries were among the losers.
All sectoral indices on NSE ended higher except the Nifty IT index which slipped 0.89 per cent. Nifty Auto rose 1.97 per cent, Nifty Media climbed 2.54 per cent, Nifty PSU Bank inched 1.98 per cent and Nifty Private Bank rallied 1.75 per cent.
In the broader market, the S&P BSE MidCap index ended at 21,803.16, up 328.34 points (1.53 per cent) while the S&P BSE SmallCap settled at 24,521.93, up 385.60 points (1.60 per cent). On NSE, the volatility index or India VIX fell 1.58 per cent to 20.55.
“Mirroring a firm trend in the global market and in response to declining commodity prices, the domestic market maintained its positive trend. The up-move was supported by broad-based buying except in IT which remained under pressure post the downgrade of earnings forecast by Accenture. We expect the market to showcase similar short-term rebounds until fresh trigger fuels the global concerns,” said Vinod Nair, Head of Research at Geojit Financial Services.
Shares were higher in Europe and Asia on Friday despite data suggesting some economies are slowing. US futures also advanced after a rally Thursday on Wall Street, where the market is headed for its first weekly gain after three weeks of punishing losses.
Britain’s FTSE 100 added 1.1 per cent to 7,097.20 after Prime Minister Boris Johnson suffered a double blow as voters rejected his Conservative Party in two special elections dominated by questions about his leadership and ethics.
Germany’s DAX rose 0.6 per cent to 12,985.33 and the CAC 40 in Paris jumped 1.4 per cent to 5,966.79. The future for the S&P 500 was up 0.7 per cent while that for the Dow industrials gained 0.6 per cent.
Tokyo’s Nikkei 225 index added 1.2 per cent to 26,491.97 and the Kospi in Seoul jumped 2.3 per cent to 2,366.60. Hong Kong’s Hang Seng advanced 2.1 per cent to 21,719.06 and the Shanghai Composite index added 0.9 per cent to 3,349.75. In Australia, the S&P/ASX 200 gained 0.8 per cent to 6,578.70.
-global market input from AP
