Markets rises for 2nd day in row as Sensex rises 329 points on rally in pharma, banking stocks

Mumbai: Rising for the second consecutive day, benchmark Sensex rose by nearly 329 points on Friday following strong gains in pharmaceutical and banking shares and foreign fund inflows.

The 30-share BSE Sensex jumped 328.72 points or 0.40 per cent to close at 82,500.82 with 22 of its constituents closing higher and eight with losses. In day trade, the index jumped by 482.01 points or 0.58 per cent to hit an intraday high of 82,654.11.

The 50-share NSE Nifty advanced by 103.55 points or 0.41 per cent to settle at 25,285.35. In the intraday session, it rose 148.95 points or 0.59 per cent to hit a high of 25,330.75.

Easing geopolitical tensions as Israel and Hamas agreed on the first stage of a ceasefire plan and signs of progress in a potential India-US deal also boosted investor sentiment.

Among the Sensex firms, State Bank of India was the biggest gainer, rising by 2.16 per cent. Maruti Suzuki India, Axis Bank, NTPC, BEL, Adani Ports, Eternal, Sun Pharmaceuticals, Power Grid, ITC, UltraTech Cement, Trent, HCL Technologies, Mahindra & Mahindra, and HDFC Bank were among the gainers.

On the other hand, Tata Steel, Tech Mahindra, Titan, Bajaj Finserv, Tata Motors, Bharti Airtel and Bajaj Finance were among the laggards.

Among sectoral indices, realty jumped 1.72 per cent, telecommunication by 1.13 per cent, healthcare by 0.99 per cent, Utilities by 0.98 per cent, Bankex by 0.97 per cent, Consumer Durables by 0.71 per cent, Power by 0.70 per cent and Services by 0.66 per cent.

On the other hand, Metal, Commodities, Oil & Gas , and Focussed IT were the laggards.

As many as 2,474 stocks advanced while 1,706 declined and 163 remained unchanged on the BSE.

Foreign Institutional Investors bought equities worth Rs 1,308.16 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude dipped 0.63 per cent to $64.81 a barrel.