Volatile Sensex ends 85 pts higher; RIL, HUL in demand

Stock markets washed out major part of its early gains on selling after mid-session but continued momentum in RIL, ITC, HDFC Bank and HUL shares helped the S&P BSE Sensex today close with a 85 point-gain at 19,495.82.
Buying was seen in bluechips from refinery, FMCG and metal segments, helping extend Indian stocks' rally for the second straight week as Sensex rose 100 points in the period.
Today, the BSE 30-share barometer resumed strong with an gap up of over 150 points following firm Asian cues and improved further to a one-month high of 19,640.27.
However, profit-selling erased some gains with the index settling at 19,495.82, still a rise of 84.98 points or 0.44 per cent over Thursday. Yesterday, it had flared up by 233.08 points or 1.22 per cent.

Brokers said the market remained firm as heavyweights RIL surged on heavy FII buying and Hindustan Unilever Ltd (HUL) climbed to record high after its Anglo-Dutch parent Unilever Plc increased stake in the Indian firm. ITC rose after hiking prices for one a cigarette brand. Jindal Steel was the biggest winner among Sensex scrips with 3.51 per cent rise.
Similarly, the NSE Nifty also firmed up further by 30.95 points to 5,867.90. SX40 index, the flagship index of MCX-SX, closed 60.3 points, or 0.52 per cent higher at 11,625.88.

Weakness in the rupee value, that approached all-time low of 60.76 registered on June 26, also impacted the stock market sentiment. The rupee was last quoting at 60.45 in late afternoon deals on suspected RBI intervention at day's lows.

"Global markets were subdued ahead of US non-farm payrolls data. This is important as Fed may closely watch the data while arriving at a decision on continuing monetary easing program," said Dipen Shah, Head of PCG Research, Kotak Securities.
In Asia, barring South Korea, which closed in negative terrain, other regional markets gained after the two most important central banks in Europe surprised by assuring investors they were in no hurry to wind down stimulus.