A traffic signal in the foreground of the Bombay Stock Exchange on Dalal Street reflects the mood of the stock markets in Mumbai. , Photo Credit: Paul Noronha
The benchmark indices started on a positive note on Friday with optimism in the US market and buying in Reliance Industries.
After a positive start, the BSE Sensex climbed 297.25 points to reach 59,903.05. The NSE Nifty gained 88.5 points to reach 17,599.75.
In the Sensex pack, Bajaj Finserv, Kotak Mahindra Bank, State Bank of India, Infosys, IndusInd Bank, Asian Paints, Bharti Airtel, Reliance Industries and UltraTech Cement were among the gainers.
Mahindra & Mahindra, Tata Steel, Tata Motors, Maruti and ITC were the laggards.
In Asian markets, South Korea, China and Hong Kong declined, while Japan was trading in the green.
US markets closed with gains on Thursday.
“Reflecting the optimism in US markets overnight and the subsequent uptick in SGX Nifty, local equities may see a positive opening. However, there is an element of uncertainty following the FOMC minutes. Minutes of the February meeting of the US Federal Reserve show is that some policy makers made a case for a 50 basis point rate hike, said Prashant Tapase-Research Analyst, Senior VP (Research) at Mehta Equities Ltd., before the market opened for trade.
On Thursday, the Sensex closed at 59,605.80, down 139.18 points or 0.23%. The Nifty closed at 17,511.25, down 43.05 points or 0.25%.
International oil benchmark Brent crude climbed 0.77% to $82.84 a barrel.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,417.24 crore on Thursday, according to exchange data.