Firm global cues and buying in financial and pharma counters helped domestic benchmark indices
settle in the positive territory for the third consecutive session on Friday.
The S&P BSE Sensex
gained 269 points or 0.75 per cent to close at 36,077 while the NSE's Nifty50 index ended at 10,860, up 80 points or 0.74 per cent. Out of 50 constituents on the index, 38 ended in the green and rest 12 in the red.
Volatility benchmark India VIX declined over 6 per cent to 15.03, indicating lower volatility in the market.
As many as 8 stocks
hit 52-week high on NSE
including names such as Bata India and SPL Industries. On the contrary, 48 securities hit their one-year low.
On a weekly basis, both the headline indices
rose around 1 per cent.
Among individual stocks, Lemon Tree Hotels ended 9 per cent higher at Rs 75 apiece on BSE
after the company has formed a joint venture (JV) with an affiliate of Warburg Pincus, a leading global private equity firm, to create a co-living platform. The stock climbed as much as 12 per cent in the intra-day trade.
Real estate developer Peninsula Land surged 12 per cent in the intraday trade after it entered into an agreement to acquire 86 per cent of equity shares
of Rockfirst Real Estate, thereby making it a wholly-owned subsidiary of the company. The stock eventually settled at Rs 11.34 apiece on BSE, up 5 per cent .
Sectorally, media stocks
gained the most with the Nifty
Media index rising 48 points or nearly 2 per cent to settle at 2,556. Pharma and financial stocks
came second on the list.
In line with benchmarks, the broader market, too, gained around 1 per cent. The S&P BSE
MidCap index ended at 15,360, up 0.93 per cent while the S&P BSE SmallCap index rose 0.86 per cent to settle at 14,606.
Asia stocks advanced on Friday after Wall Street ended volatile trade in positive territory, adding to the previous session's big gains, although lingering investor jitters helped support safe-haven currencies such as the yen.
MSCI's broadest index of Asia-Pacific shares
outside Japan rose 0.8 per cent. It has fallen 3 per cent so far in December. The Shanghai Composite Index moved up 0.35 per cent. Australian stocks added 1 per cent and South Korea's KOSPI climbed 0.5 per cent. Japan's Nikkei bucked the trend and slipped 0.3 per cent, losing some steam after surging nearly 4 per cent on Thursday.
prices rose on Friday to claw back some of the ground they lost in the previous session, but growth in US crude stockpiles and ongoing concerns about the global economy kept markets
US West Texas Intermediate (WTI) crude futures, were up $1.37, or 3.07 per cent, at $45.98 per barrel, having earlier rising as high as $46.05 per barrel. They ended Thursday down 3.48 per cent, or $1.61, at $44.61 a barrel. Brent crude had yet to trade. It dropped 4.24 per cent, or $2.31, the day before to settle at $52.16 per barrel.
(with Reuters inputs)