Investors rejoiced the upbeat global sentiment went on buying free mainly in beaten down counters such as technology, auto, oil&gas, metal, <g data-gr-id="40">fmcg</g>, power and capital goods as the September series in the derivatives segment began on a strong note. Easing nearterm worries over an imminent Fed rate hike in the midst of ongoing global turmoil and some stability in overseas after recent meltdown also supported the upmove.
Market commenced on a highly buoyant note following beginning of the September month F&O series and firm buying in across the sector tracking robust Asian cues. Strong overnight closing on Wall Street also buoyed trading mood. However, the initial gains disappeared in the final hour of trade as market encountered stiff resistance at higher levels and succumbed to <g data-gr-id="39">fresh</g> bout of profit-taking by retail investors amid some caution after big spike yesterday.
Though, the key indices finally settled the session with good gains. The 30-share bellwether opened higher at 26,542.84 and touched a high of 26,687.33 and a low of 26,270.17 before finishing at 26,392.28, registering a smart gain of 161.19 points, or 0.61 <g data-gr-id="37">per cent</g>.
Similarly, the broader 50-share Nifty also spiked by 53.00 points, or 0.67 <g data-gr-id="29">per cent</g> to close at 8,001.95. Foreign portfolio investors (FPIs) sold shares worth Rs 3,347.35 crore yesterday, as per provisional data from the stock exchanges.
BSE sectoral wise, Technology surged by 1.76 per cent. It was followed by IT 1.52 per cent, Auto 1.01 <g data-gr-id="43">per cent</g>, Oil&gaas 0.91 per cent, Metal 0.77 per cent, FMCG 0.56 per cent, Power 0.53 per cent and Capital Goods 0.20 <g data-gr-id="44">per cent</g>. Realty, consumer durable, healthcare and bankex ended modestly lower. As many as 20 stocks advanced out of the 30-share index.
Major gainers included VDEL rose 5.70 per cent, ONGC 5.55 per cent, Bhart Artel 4.29 per cent, Bajaj Auto 3.65 per cent, Gail 3.17 per cent, Infosys 2.45 per cent, Wipro 2.24 per cent, NTPC 2.06 per cent, Tata Motors 1.70 per cent, Hindalco 1.43 <g data-gr-id="48">per cent</g>, Bhel 1.25 per cent, Tata Steel 1.17 <g data-gr-id="49">per cent</g> and Dr Reddys 1.14 <g data-gr-id="50">per cent</g>.
Notable losers were Sun Pharma tumbled by 2 per cent, Lupin 1.89 per cent, Coal India 1.00 per cent, TCS 0.27 <g data-gr-id="34">per cent</g> and L&T 0.24 <g data-gr-id="35">per cent</g>. The market breadth turned marginally weak as 1405 scrips declined as against 1294 advances. The total turnover <g data-gr-id="36">shot-up</g> to Rs 3,591.07 crore, from 3,015.30 Rs crore on Thursday.
Shanghai shares rise for 2nd day in row, up 4.82%
Shanghai stocks closed up 4.82 percent on Friday, rising for a second day on strong US growth figures and a global market rally, amid speculation the government is also supporting the market, dealers said. China’s benchmark Shanghai Composite Index surged 148.76 points to 3,232.35 on turnover of 474.6 billion yuan (USD 74.2 billion). Despite two days of substantial gains, the index still lost 7.85 percent for the week.
The Shenzhen Composite Index, which tracks stocks on China’s second exchange, soared 5.40 <g data-gr-id="84">per cent</g>, or 94.62 points, to 1,846.83 on turnover of 425.0 billion yuan. It fell 9.44 percent over the week. Dealers said a mixture of positive news boosted the markets.