Equity benchmarks stay on upward track for 2nd day on positive global trends – Times of India

by The Technical Blogs

MUMBAI: Equity benchmark indices Sensex and Nifty sustained their upward movement for the 2nd straight day and ended with gains on Friday in line with positive trends in global markets. Extending its previous day’s rally, the 30-share BSESensex climbed 282.88 points or 0.44 per cent to settle at 64,363.78. During the day, it jumped 454.29 points or 0.70 per cent to 64,535.19.
The Nifty went up by 97.35 points or 0.51 per cent to close at 19,230.60.
Among the Sensex firms, Titan, Tech Mahindra, Tata Motors, JSW Steel, ICICI Bank, Infosys, State Bank of India, and Sun Pharma were the major gainers.
Bajaj Finserv, IndusInd Bank, Nestle, Tata Steel and Bajaj Finance Bank were the major laggards.
In the broader market, the BSE smallcap gauge jumped 0.94 per cent while the midcap index climbed 0.71 per cent.
All the indices ended in the green, with realty rallying 2.64 per cent, services jumped 1.60 per cent, consumer durables (1.44 per cent), consumer discretionary (1.15 per cent), oil & gas (0.94 per cent), bankex (0.68 per cent) and energy (0.73 per cent).
Overall during the week, the BSE benchmark jumped 580.98 points or 0.91 per cent while the Nifty climbed 183.35 points or 0.96 per cent.
“The optimism is buoyed by firm global clues, steady macroeconomic data and strong domestic corporate earnings. Clues that Fed is unlikely to hike rates in the future and modest decline in oil prices are adding to the optimism,” said Vinod Nair, Head of Research at Geojit Financial Services.
In Asian markets, Seoul, Shanghai and Hong Kong settled with gains.
European markets were trading in the positive territory. The US markets ended with significant gains on Thursday.
Global oil benchmark Brent crude rose 0.01 per cent to USD 86.86 a barrel.
Foreign Institutional Investors (FIIs) continued to be net sellers in the capital markets and sold equities worth Rs 12.43 crore on Friday, according to exchange data.
On Thursday, the BSE benchmark jumped 489.57 points or 0.77 per cent to settle at 64,080.90. The Nifty climbed 144.10 points or 0.76 per cent to 19,133.25.

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