New Delhi: Equity indices along with benchmarks extended gains for the second straight session on Friday BSE Sensex Tracking a positive trend in global equities, surged over 600 points.
The 30-share BSE index closed 632 points or 1.17 per cent higher at 54,885. while the broad NSE Nifty It closed 182 points or 1.13 per cent higher at 16,352.
Buying at Infosys and banking counters helped the markets maintain their winning streak.
Tech Mahindra, IndusInd Bank, Wipro, Bajaj Finance, Infosys, Bajaj Finserv, Larsen & Toubro and HCL Technologies were among the top gainers, rising 4.1 per cent in the Sensex pack.
In contrast, NTPC, Bharti Airtel, Power Grid, Tata Steel, Reliance Industries, Asian Paints and Nestle were among the laggards.
Most of the major Nifty sub-indices also ended higher with IT stocks rising 2.54 per cent. Pandemic-favorite technology stocks have come under pressure recently, with the Nifty sub-index falling nearly 10 per cent so far in May, in its eighth consecutive weekly loss.
Vinod Nair, Head of Research, Geojit Financial Services, told PTI, “Investors were in a buying mood following favorable retail earnings in the US after joining the global rally. Decline in FII sales eased volatility in the domestic market. helped to do that.”
Aluminum and copper maker Hindalco Industries’ March quarter profit jumped up to 4.7 per cent after doubling from a year ago.
Meanwhile, foreign institutional investors continued their sell-off with shares worth a net Rs 1,597.84 crore on Thursday, according to stock exchange data.
(with inputs from agencies)
The 30-share BSE index closed 632 points or 1.17 per cent higher at 54,885. while the broad NSE Nifty It closed 182 points or 1.13 per cent higher at 16,352.
Buying at Infosys and banking counters helped the markets maintain their winning streak.
Tech Mahindra, IndusInd Bank, Wipro, Bajaj Finance, Infosys, Bajaj Finserv, Larsen & Toubro and HCL Technologies were among the top gainers, rising 4.1 per cent in the Sensex pack.
In contrast, NTPC, Bharti Airtel, Power Grid, Tata Steel, Reliance Industries, Asian Paints and Nestle were among the laggards.
Most of the major Nifty sub-indices also ended higher with IT stocks rising 2.54 per cent. Pandemic-favorite technology stocks have come under pressure recently, with the Nifty sub-index falling nearly 10 per cent so far in May, in its eighth consecutive weekly loss.
Vinod Nair, Head of Research, Geojit Financial Services, told PTI, “Investors were in a buying mood following favorable retail earnings in the US after joining the global rally. Decline in FII sales eased volatility in the domestic market. helped to do that.”
Aluminum and copper maker Hindalco Industries’ March quarter profit jumped up to 4.7 per cent after doubling from a year ago.
Meanwhile, foreign institutional investors continued their sell-off with shares worth a net Rs 1,597.84 crore on Thursday, according to stock exchange data.
(with inputs from agencies)