Markets rally around 1% on strong macro data and global cues, metal & power stocks shine
Mumbai: Equity benchmark Sensex on Friday rallied around 556 points, logging its best single day in two months, while Nifty closed above the 19,400 level on value-buying in power, metal and oil stocks following strong domestic macro data and global cues.
The BSE barometer closed higher by 555.75 points or 0.86 per cent at 65,387.16 with 26 of its constituents ending in the green.
The broader Nifty spurted by 181.50 points or 0.94 per cent to close at 19,435.30.
As many as 44 Nifty stocks advanced while six declined.
NTPC was the lead gainer among Sensex stocks, rising by 4.84 per cent.
JSW Steel (3.37 per cent), Tata Steel (3.33 per cent), Maruti (3.24 per cent), Power Grid (3.07 per cent), IndusInd Bank (2.95 per cent), Bajaj Finance (2.12 per cent) and Tech Mahindra (2.22 per cent) were among major gainers.
On the other hand, Ultratech Cement, Sun Pharma, Nestle and L&T were the losers.
In the broader market, both BSE Midcap and SmallCap rose by 0.75 per cent each.
All the sectoral indices except for healthcare closed with gains. Overall market breadth was positive as 2,183 stocks advanced, 1,479 stocks declined and 124 stocks closed unchanged. As many as 281 stocks hit their 52-week high levels while 22 scrips traded at 52-week lows.
The rupee ended on a flat note at 82.70 against the US dollar on Friday as surging crude oil prices dented the investor sentiment.
Global oil price benchmark Brend Crude futures surged 1.26 per cent to $87.92 per
barrel. On Thursday, Foreign Institutional Investors (FIIs) were net sellers of domestic equities as they offloaded shares worth Rs 2,973.10 crore, as per exchange data.