Mumbai: Stock market benchmark indices Sensex and Nifty surged over 1 per cent on Friday, propelled by buying in banking counters and a positive trend in global equities.
Investor sentiment improved amid hopes of further easing in the West Asia crisis ahead of US-Iran negotiations and lower crude prices, analysts said.
After staying in the positive territory throughout the day, the 30-share BSE Sensex later jumped 918.60 points or 1.20 per cent to settle at 77,550.25. During the day, it surged 990.85 points or 1.29 per cent to 77,622.50.
A total of 3,360 stocks advanced while 945 declined and 144 remained unchanged on the BSE.
The 50-share NSE Nifty climbed 275.50 points or 1.16 per cent to end at 24,050.60.
On the weekly front, the BSE benchmark jumped 4,230.7 points or 5.77 per cent, and the Nifty surged 1,337.5 points or 5.88 per cent.
From the 30-Sensex firms, Asian Paints, ICICI Bank, Mahindra & Mahindra, InterGlobe Aviation, Axis Bank and State Bank of India were the major gainers.
On the other hand, Sun Pharma, Infosys, Tata Consultancy Services, Tech Mahindra and HCL Tech were the laggards.
The BSE Small Cap Select index jumped 1.64 per cent, and the MidCap Select index climbed 1.50 per cent.
Auto jumped 2.75 per cent, Capital Goods (2.27 per cent), Consumer Durables (2.20 per cent), Industrials (2.19 per cent), Consumer Discretionary (2.18 per cent), Bankex (2.06 per cent), and Realty (2.02 per cent). In contrast, BSE IT and Focused IT were the
laggards.
The positive trend was led by buying in banking, auto and financial stocks, while IT counters saw some profit booking after TCS’ financial results.
The rupee pared initial gains and settled for the day 17 paise lower at 92.68 against the US dollar on Friday, weighed down by risks from rising global tensions, especially the US-Iran conflict.
Brent crude, the global oil benchmark, climbed 0.57 per cent to $96.47 per barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,711.19 crore on Thursday, according to exchange data.
Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 955.90 crore.
On Thursday, the Sensex dropped 931.25 points, or 1.20 per cent, to settle at 76,631.65. The Nifty declined 222.25 points or 0.93 per cent to end at 23,775.10.