Market rundown by Vinod Nair, Head of Research, Geojit Financial Services
"Market traded in a positive bias on account of renewed buying in IT stocks and expectation of sovereign rating upgrade. Domestic fundamentals are better while a positive upgrade in rating will provide more conviction to investors on the government’s reforms agenda." Nifty PSU Banks fall
Top Sensex gainers and losers
In broader markets, the BSE Midcap and BSE Smallcap indices ended 0.6% and 0.5% higher Markets at close
The S&P BSE index ended the day at 33,679, up 91 points while the broader Nifty50 index settled at 10,389, up 40 points
Benchmark indices ended positive for a seventh straight session on Friday led by IT firms, while bonds dipped on market talk of a potential sovereign ratings upgrade by Standard & Poor’s (S&P) later in the day.
Speculation about an S&P rating upgrade on India surfaced late on Thursday. This comes after a surprise upgrade by Moody’s last week.
Foreign investors have net bought $2.33 billion worth of Indian shares in November so far.
Globally, Asian shares hovered below their 10-year peak on Friday while mainland Chinese shares dropped to three-month lows after big falls the previous day on concerns about fresh government steps to curb financial risks and rise in Chinese bond yields.