Sectoral trends on NSE BSE Sensex: Top gainers & losers Market At Close The S&P BSE Sensex settled at 34,733.58, up 732 points or 2.15 per cent while NSE's Nifty50 index gained 238 points or 2.32 per cent to end at 10,472.50. Auto index set to post sharpest single day gain in 31 months Shares of automobile companies were riding high on the bourses on Friday as Nifty Auto and the S&P BSE Auto indices, set to post their sharpest single-day rally in 31 months, amid fall in oil prices and rupee recovery from record lows. At 02:38 PM; Nifty Auto (up 4.02%) and the S&P BSE Auto (up 4.2%) indices were up more than 4%, as compared to 2% rise in the benchmark indices. Earlier, on March 1, 2016, auto indices were up 4.3% in a single day. READ MORE Oil rebounds to $81, pares gain as IEA sees adequate supply Oil rose to $81 a barrel on Friday, rebounding after two days of declines, though prices pared gains after another closely watched forecaster deemed supply adequate and the outlook for demand weakening. Crude was still heading for its first weekly drop in five weeks, pressured by a big rise in U.S. inventories and fading concerns that looming U.S. sanctions on Iran will cut supplies significantly. Read More Nifty Metal index up 3.44% led by gains in Jindal Steel
The S&P BSE Sensex ended at 34,734, up 732 points (2.15 per cent), while the broader Nifty50 index settled at 10,472, up 238 points (2.32 per cent).
The rupee strengthened against the US dollar on Friday, rising 53 paise to 73.58 against the greenback in intra-day trade.
Among sectoral indices, the Nifty Auto index settled 4 per cent higher led by a rally in shares of Mahindra & Mahindra and Maruti Suzuki India. The Nifty Bank index, too, rose 2.5 per cent led by IndusInd Bank and ICICI Bank.
However, the Nifty IT index slipped 1 per cent lower led by a fall in Tata Consultancy Services (TCS), which fell 3 per cent to Rs 1,920 on the NSE after the company reported a lower than expected revenue growth of 3.7 per cent in constant currency (CC) terms in September quarter on the sequential basis. The Street was estimating revenue growth of 4 per cent in CC terms for the quarter.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 2.0 per cent, the biggest in more than two years. But the bounce came after the index fell 3.6 per cent on Thursday to hit a 1-1/2-year low. On the week, it is still on track for a weekly loss of 3.6 per cent. Shanghai shares bounced 0.8 per cent, recouping earlier losses of 1.8 per cent as cheap valuations drew bargain hunters.