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MARKET WRAP: Sensex up 247 pts, Nifty holds 11,300; IT, metal stocks shine
All that happened in markets today.
Some brisk buying in industry heavyweights such as Infosys, HDFC, ICICI Bank, Hindustan Unilever (HUL), and Bharti Airtel helped benchmark indices settle with decent gains on Friday. Additionally, positive global cues, too, boosted investor sentiment.
The S&P BSE Sensex added 247 points or 0.65 per cent to end at 38,127.08 levels, with Infosys (up 4 per cent) being the top gainer and YES Bank (down over 3 per cent) the biggest loser. During the session, the index hit a high and low of 38,345.41 and 37,737.85, respectively.
In the broader market, the S&P BSE MidCap index ended at 13,780.99 levels, up 33 points or 0.24 per cent and the S&P BSE SmallCap gained 49 points or 0.38 per cent to close at 12,772.07.
On the NSE, the headline index Nifty50 ended at 11,301.25 levels, up 67 points or 0.59 per cent.
Sectorally, barring media and private bank, all the indices on the NSE ended in the green. The Nifty Metal index ended at 2,335.20 levels, up 2.27 per cent.
Asian shares jumped on Friday after US President Donald Trump said he would meet with China’s top trade negotiator, stirring hopes for an agreement, while sterling resumed its climb amid optimism over a possible Brexit deal. European shares were mostly expected to continue the rally. Pan-region Euro Stoxx 50 futures rose 0.26 per cent to 3,494 and German DAX futures gained 0.29 per cent to 12,209. FTSE futures were down 0.43 per cent at 7,142.5 early in the day.
MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 1.3 per cent on Friday afternoon in Asia. S&P e-mini futures added 0.45 per cent. Japan's Nikkei stock index gained 1.1 per cent. Chinese blue-chips were up nearly 1 per cent after a slow start.
In commodities, oil prices jumped by 2 per cent after Iranian news agencies said a state-owned oil tanker was struck by two missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions from a crucial producing region.
(With inputs from Reuters)