Benchmark indices rose for the second straight session on Friday amid foreign fund inflows and positive global cues. Sensex climbed 104.92 points to end at 59,793.14 and Nifty ended 34.60 points higher at 17,833.35. Tech Mahindra, IndusInd Bank, Infosys, HCL Technologies, Maruti, Tata Consultancy Services, State Bank of India, Wipro and Axis Bank were the top Sensex gainers, rising up to 3.32 per cent. UltraTech Cement, Mahindra & Mahindra, Larsen & Toubro and Bajaj Finance were among the top losers, falling up to 1.94 per cent.
Rupak De, Senior Technical Analyst at LKP Securities said, “Nifty has given a falling trendline breakout on the daily chart. Besides, the index value has moved above its crucial resistance of 17700. The daily RSI has entered into a bullish crossover. The trend for the short term looks positive. On the lower end, support is visible at 17700. Resistance on the higher end is seen at 17900/18100.”
Mid-cap and small-cap indices on BSE gained 42 points and 54 points, respectively. Banking and IT stocks were the top sectoral gainers with their BSE indices zooming 592 points, and 232 pts, respectively.
Share Market Highlights: Sensex rises 105 points, Nifty ends above 17,800; IT stocks surge
Vinod Nair, Head of Research at Geojit Financial Services said, “Domestic bourses kicked off the trading session on a strong footing, backed by positive sentiments across global markets. However, it succumbed to profit booking after surpassing the psychological 60,000 mark. Global indices edged higher as investors reassessed the outlook for monetary policy following ultra-hawkish remarks from the Fed chair and 75bps rate hikes by ECB. Banking and consumer-facing stocks continued to be top picks in the domestic market.”
However, market breadth was negative with 1,687 stocks ending higher against 1,756 stocks falling on BSE. 128 shares were unchanged. Market cap of BSE-listed firms rose to Rs 283.03 lakh crore.
Foreign institutional investors remained net buyers in the capital markets on Thursday as they bought shares worth Rs 2,913 crore, as per exchange data.
Previous session
Benchmark indices rebounded around 1 per cent on Thursday due to value buying in banking, IT and auto stocks amid largely positive trend in the global markets. Sensex climbed 659.31 points or 1.12 per cent to end at 59,688.22. Nifty rose 174.35 points or 0.99 per cent to close at 17,798.75. Tech Mahindra, Axis Bank, ICICI Bank, Mahindra & Mahindra, Bharti Airtel, State Bank of India, UltraTech Cement, Bajaj Finserv, IndusInd Bank and Asian Paints were the top Sensex gainers, rising up to 3.23 per cent.
Global markets
Elsewhere in Asia, markets in Shanghai, Tokyo and Hong Kong ended in the green. Equities in Europe were trading significantly higher during mid-session deals. The US markets had ended higher on Thursday. Meanwhile, the international oil benchmark Brent crude climbed 1.73 per cent to $90.69 per barrel.