Mumbai: Benchmark stock indices Sensex and Nifty gave up most of their intra-day gains to end nearly half a per cent higher on Friday, following intense buying in PSU bank, IT and metal stocks amid concerns over a further spike in fuel-driven inflation.
In another volatile session, the 30-share BSE Sensex climbed 325.72 points or 0.44 per cent to settle at 74,532.96. During the day, it jumped 1,079.15 points, or 1.45 per cent, to 75,286.39.
The 50-share NSE Nifty edged higher by 112.35 points, or 0.49 per cent, to end at 23,114.50. Intra-day, it jumped 343 points, or 1.49 per cent, to 23,345.15.
From the 30-Sensex firms, Tata Steel, Tech Mahindra, Infosys, Trent, Reliance Industries, Titan, NTPC and Sun Pharma were among the major gainers.
HDFC Bank, Bharat Electronics, Kotak Mahindra Bank and ICICI Bank were among the laggards.
Brent crude, the global oil benchmark, jumped 1.88 per cent to $110.7 per barrel.
The BSE MidCap Select index climbed 0.97 per cent, while SmallCap Select index declined 0.32 per cent.
Among sectoral indices, BSE PSU Bank jumped 2.19 per cent, Focused IT (2.18 per cent), IT (2.08 per cent), healthcare (1.45 per cent), metal (1.41 per cent) and energy (1.03 per cent).
However, financial services, Private Banks index, BSE Top 10 Banks, realty and BSE MidSmall Private Banks Quality Tilt were the laggards.
A total of 2,458 stocks advanced, while 1,804 declined and 170 remained unchanged on the BSE.
On the weekly front, the BSE benchmark dipped 30.96 points or 0.04 per cent, the Nifty slipped 36.6 points or 0.15 per cent.
“Markets witnessed a volatile session on Friday and ended marginally higher, taking a breather after the previous session’s steep decline. The Nifty opened on a firm note following positive global signals and maintained gains in the early hours. However, selling pressure resumed as the session progressed, leading the index to surrender most of its gains by the close,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
In Asian markets, South Korea’s benchmark Kospi ended higher, while Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index settled lower. Markets in Japan were closed due to a holiday. Equity markets in Europe were trading higher. The US market ended in negative territory on Thursday.
Foreign Institutional Investors offloaded equities worth Rs 7,558.19 crore on Thursday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 3,863.96 crore.