Stock market extends winning steak; PSU bank at new high
Sensex closed 487 points, or 0.66%, higher at 74,339.44 while the Nifty closed the day with a gain of 168 points, or 0.75%, at 22,570.35 on the monthly F&O expiry day.
Domestic indices finished higher on Friday after a day’s pause, rising over half per cent led by buying in index-heavyweights HDFC twins and Asian Paints amid a rebound in global markets. The S&P BSE Sensex ended 214.33 points or 0.56 per cent higher at 38,434.72 levels while NSE Nifty rose 59.40 points or 0.53 per cent to close at 11,371.60 levels.
Sensex gainers pack was ruled by NTPC (up by 4.75 per cent or Rs 4.80) followed by Asian paints and Powerr Grid Corp, both up by over 4 per cent.
HDFC Bank, Sun Pharma, Nestle India, SBI and Axis Bank were among the other gainers on the BSE charts.
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On the other hand, ONGC, Bharti Airtel, Tata Steel and Reliance Industries were among the laggards.
On a weekly basis, Sensex and Nifty gained 1.47 per cent and 1.72 per cent respectively.
Broader markets maintained their upside move and ended with MidCap and SmallCap indices up by 0.57 per cent and 1.5 per cent respectively.
While stock-specific action drove benchmarks higher, domestic market sentiment was also buoyed by positive trend in global equities, traders said.
Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with significant gains.
Stock exchanges in Europe were also trading in the positive terrain in early deals.
Global oil benchmark Brent crude was trading 0.71 per cent lower at USD 44.58 per barrel.
In the forex market, the rupee settled 18 paise higher at 74.84 against the US dollar.
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