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MARKET WRAP: Sensex recovers 212 pts from day's low, Nifty ends at 11,643
All that happened in markets today
Buying in select bluechip counters such as ITC, Maruti, ICICI Bank and Infosys helped benchmark indices to settle in the positive territory on Friday.
The S&P BSE Sensex recovered 212 points from day's low to settle at 38,767, up 160 points or 0.41 per cent. FMCG major ITC emerged as the top gainer on the index with over 3 per cent gains while Tata Motors (down over 1 per cent) ened as the biggest loser.
The broader Nifty50 index of the National Stock Exchange (NSE) settled at 11,643.45, up 47 points or 0.40 per cent, with 27 constituents advancing and 23 declining.
In the broader market, the S&P BSE MidCap index gained 44 points or 0.29 per cent to end at 15,426 while the S&P BSE SmallCap index added 56 points or 0.37 per cent to end at 15,022.
Sectorally, all the indices ended in the green with media stocks gaining the most, followed by FMCG and auto. The Nifty Media index gained over 1 per cent to end at 2,443 level.
Shares of ITC hit over a six-month high in the intra-day trade, extending its previous day’s 1 per cent gain, on the back of heavy volumes on the BSE. The stock ended at Rs 305.60 apiece, up 3 per cent.
Shares of SpiceJet surged 10 per cent to Rs 111 on Friday, gaining 18 per cent in the past two trading days after the company said it will induct 16 Boeing 737-800 NG aircraft on dry lease. The company has applied to the Directorate General of Civil Aviation (DGCA) for a no objection certificate (NOC) to import the aircraft. Shares, eventually closed at Rs 110, up nearly 9 per cent.
Shares of Foods & Inns were locked in the upper circuit of 20 per cent at Rs 223, also its record high on the BSE on Friday after RK Damani’s Derive Investments on Thursday bought nearly 5 per cent stake in the company from open market. The stock surpassed its previous high of Rs 217 recorded on April 19, 2018 in intra-day trade.
Asian shares were flat and US Treasury yields pulled back on Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan was barely higher, up 0.03 per cent.
Higher Chinese iron ore prices helped Australian shares outpace regional markets, pushing Australia’s S&P/ASX 200 index up 0.7 per cent. Japan’s Nikkei stock index gained 0.1 per cent.
Oil prices were firm on Friday, supported by ongoing supply cuts led by producer club OPEC and by US sanctions on petroleum exporters Iran and Venezuela.
(With inputs from Reuters)