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MARKET WRAP: Indices snap 3-day losing streak, Sensex up 411 pts; PSBs gain
All that happened in the markets today
Snapping three-day losing streak, buying sentiment was back at D-Street with benchmark indices edging a per cent higher on Friday lifted by gains in financial counters.
The S&P BSE Sensex gained 411.38 points, or 1 per cent, to close at 41,575.14 level, with Axis Bank (up 3 per cent), Power Grid (2.2 per cent), SBI (2 per cent), and Bharti Airtel (1.89 per cent) settling as the top gainers on the index. On the flipside, UltraTech Cement (0.22 per cent), and Titan (0.17 per cent) were the top drags.
On the NSE, the Nifty50 ended 124.15 points, or 1.02 per cent highet at 12,250.70-mark.
The Sensex and Nifty50 hit an intra-day high/low of 41,611.27/41,264.92 and 12,258.45/12,157.90, respectively.
On the sectoral front, all the key indices on the NSE settled the day in the positive territory. Nifty PSU Bank index was the best performing index, up 3 per cent, at close, followed by gains in Nifty Realty index (1.6 per cent), and Nifty Bank index (1.3 per cent).
The broader markets, too, followed headlines indices with the S&P BSE mid and small-cap indices gaining 0.86 per cent each.
Asian shares scaled an 18-month high on Friday while oil prices stayed buoyant in a holiday-shortened week, as investor optimism improved on hopes a US-China trade deal would soon be signed.
In early European trade, the pan-region Euro Stoxx 50 futures added 0.4 per cent, German DAX futures rose 0.6 per cent while FTSE futures were up 0.5 per cent.
MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.7 per cent to 555.42, a level not seen since mid-2018. Japan’s Nikkei was off 0.4 per cent, but on track for a near 19 per cent rise this year, matching the annual increase of 2017. Australia’s benchmark index rose 0.4 per cent. Chinese shares gave up early gains with the blue-chip CSI300 down 0.1 per cent.
(With inputs from Reuters)