- M&M's tractor sales momentum crucial for uptick from current levels
- Emami: June quarter earnings bring much needed relief for investors
- Canara Bank to hit market with equity offering of Rs 5,000 cr in Q4FY21
- Margin pressures likely to cap upside for Dr Lal Pathlabs: Analysts
- Street signs: Liquidity boost for small-caps, tailwind for gold, and more
- 'Quality' stocks come at a premium, valuations have crossed pre-Covid level
- FPIs remain net buyers in first week of August; pump in Rs 8,327 crore
- Macro data, firm earnings, global cues to guide markets this week: Experts
- Improving realisations may help steelmakers forget Covid-19 memories
- NSE sets aside over Rs 4,000 cr of revenues from its co-location operations
Sensex surges 548 points amid broad-based buying; Nifty ends above 10,900
All that happened in the markets today
Photo: Kamlesh Pednekar
The Indian stock market ended 1.5 per cent higher on Friday, led by buying in Reliance Industries (RIL), HDFC Bank, ICICI Bank, and HUL.
The S&P BSE Sensex settled 548 points or 1.5 per cent higher at 37,020 levels. Of 30 constituents, 25 advanced and the rest five declined. ONGC (up 5.5 per cent) ended as the biggest gainer on the index while TCS (down around 1.5 per cent) was the biggest loser. NSE's Nifty advanced 162 points or 1.5 per cent to end at 10,902. Meanwhile, the volatility index, India VIX, slipped 5.4 per cent to 23.99 levels.
On a weekly basis, Sensex gained 1.16 per cent while Nifty added 1.24 per cent.
Sectorally, barring Nifty IT index, all the other indices ended in the positive territory. Nifty PSU Bank index rose 1.83 per cent to
1,431.60 levels while the Nifty Bank ended 1.7 per cent higher at 21,967 points. Nifty IT, on the other hand, slipped 0.62 per cent to 16,821 levels.
In the broader market, the S&P BSE MidCap gained 1.55 per cent while the S&P BSE SmallCap rose 1.11 per cent.
Europe’s stock markets were subdued on Friday as EU leaders met in Brussels to try to hammer through a 750 billion euro post-pandemic recovery fund. In Asia, Japan’s Nikkei slid 0.3 per cent on concerns about rising virus infections in Tokyo. China’s CSI300 index climbed 0.25 per cent, though that was after a near 5 per cent slump on Thursday.
In commodities, oil prices slipped amid growing uncertainty about the global recovery in fuel demand as coronavirus cases surged in several countries, while major producers were set to ease output curbs.
(With inputs from Reuters)