Bourses close marginally higher as fag-end choppiness slashed most of the day's gains

Mumbai: Benchmark indices closed modestly higher on Friday as fag-end choppiness trimmed most of the day's gains amid a largely firm trend in overseas markets.

Global investors were in wait-and-watch mode ahead of Federal Reserve Chair Jerome Powell's speech at the annual Jackson Hole symposium, where he is expected to provide clues on the US central bank's rate hike trajectory.

The BSE Sensex opened firm and soared over 500 points to an intra-day high of 59,321.65, but succumbed to profit-booking towards the end of the session. It finally closed at 58,833.87, up 59.15 points or 0.10 per cent.

On similar lines, the broader NSE Nifty advanced 36.45 points or 0.21 per cent to end at 17,558.90.

NTPC was the biggest gainer among the Sensex constituents, spurting 2.80 per cent, followed by Titan, PowerGrid, Kotak Mahindra Bank, Larsen & Toubro, Tech Mahindra, Tata Steel and Mahindra & Mahindra.

On the other, IndusInd Bank, HDFC, Asian Paints, Bharti Airtel, Dr Reddy's and Reliance Industries were among the prominent laggards, shedding as much as 1.92 per cent.

On a weekly basis, the Sensex tumbled 812.28 points or 1.36 per cent, while the Nifty lost 199.55 points or 1.12 per cent.

Meanwhile, the international oil benchmark Brent crude jumped 1.14 per cent to $100.5 per barrel. The rupee appreciated by 8 paise to close at 79.84 against the US dollar on Friday, supported by foreign fund inflows.