The Indian benchmark indices BSE Sensex and NSE Nifty closed Friday over 1.2% higher as bulls return to outperform bears. The gains in the cues were driven majorly by the metal stocks. The Asian indices rebound on the back of hopes of recovery in the global share markets.
The S&P BSE Sensex closed the day 1.17% or 568.38 points higher on Friday. It wrapped the week at 49,008.50 levels. On Friday, the market sentiment was such that as many as twenty-six of the thirty stocks that form the Sensex index closed the day in the green terrain, while the remaining four closed lower.
Bajaj Finserv and Asian Paint led the gains in the indices. Their share price was enhanced by 4.49% and 4.28%, respectively. Titian and Hindustan Unilever followed as their share price jumped by 3.83% and 3.45%, respectively. The share price of Bajaj Auto, Bharti Airtel and Nestle India witnessed their share price zoom 2.82%, 2.81% and 2.44%, respectively.
The other stocks to close the day over 2% higher were HDFC and Tech Mahindra. The share price of L&T, HDFC Bank, Sun Pharma, ICICI Bank, Bajaj Finance, NTPC, and M&M. The other stocks to close the day higher are UltraTech Cement, SBI, Kotak Bank, Dr Reddy’s, Axis Bank, ONGC, Infosys, HCL Tech, Reliance and TCS.
The gains in the index were curtailed by Maruti, ITC, IndusInd Bank and PowerGrid. Their share prices tanked 0.01%, 0.17%, 0.58% and 0.97%, respectively.
The NSE Nifty 50 ended the week at the 14,507.30 levels. It managed to add 1.27% or 182.40 points to its tally over the day. Among the fifty stocks that constitute the Nifty index, forty-four advanced while the remaining six closed in the negative territory. Tata Steel and Bajaj Finserv drove the gains in the index, while UPL and PowerGrid led the dragging down of gains.
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Engineer by qualification, financial writer by choice. I am always open to learning new things.
