New Delhi: Benchmark indices rose for the third consecutive day on Friday with the Sensex rising over 300 points amid mixed global market sentiment. The 30-share BSE benchmark ended 303.38 points or 0.56 per cent higher at 54,481.84. During the day, it gained 448.68 points or 0.82 per cent to reach 54,627.14. The broader NSE Nifty closed 87.70 points or 0.54 per cent higher at 16,220.60.
Larsen & Toubro, Power Grid, NTPC, ICICI Bank, Axis Bank, Dr Reddy’s Lab, Nestle, Bharti Airtel, Infosys and Hindustan Unilever were the major gainers from the Sensex pack. (Also Read: Shinzo Abe Dies At 67: Here’s How The Former Prime Minister Stimulated Japanese Investment In India)
Tata Steel, Maruti Suzuki India, IndusInd Bank, TCS and Asian Paints were among the laggards. (Also read: Mumbai: Cyber fraudster cheated Rs 3.77 lakh from woman’s bank)
In Asia, markets in Tokyo, Hong Kong and Seoul ended higher, while Shanghai closed marginally lower.
European equity markets were trading lower in mid-session deals. On Thursday, the US markets closed with gains.
Chief Investor VK Vijayakumar said, “The current rally is partly driven by expectation that given the continued fall in commodity prices, inflation will start showing a downward trend, which may lead to central banks raising rates, and Can partially cover short. Strategist at Geojit Financial Services.
Meanwhile, international oil benchmark Brent crude fell 0.12 per cent to $104.5 per barrel.
Foreign institutional investors were net sell-offs in shares worth Rs 925.22 crore on Thursday, according to exchange data.