Sensex closes marginally higher, Nifty ends flat; Yes Bank, SBI, ICICI among top gainers
Domestic equity benchmarks Sensex and Nifty settled a tad higher after a choppy session on Friday amid mixed domestic cues
The 30-share Sensex swung over 523 points before settling 37.67 points, or 0.10 percent, higher at 39,058.06
Both the key indices closed Hindu calendar year Samvat 2075 with smart gains
The Sensex rallied 4,066.15 points or 11.62 percent, while the Nifty soared 1,053.90 points or 10 percent in Samvat 2075
Mumbai: Domestic equity benchmarks eked out modest gains after a see-saw session on Friday as investors stuck to select banking and IT stocks following encouraging results.
The 30-share BSE Sensex swung over 523 points before settling 37.67 points, or 0.10 percent, higher at 39,058.06. The broader NSE Nifty closed at 11,583.90, up by just 1.30 points or 0.01 percent.
Both the key indices closed Hindu calendar year Samvat 2075 with smart gains. The Sensex rallied 4,066.15 points or 11.62 percent, while the Nifty soared 1,053.90 points or 10 percent in Samvat 2075.
During the holiday-shortened week, the Sensex lost 240.32 points or 0.61 percent, and the Nifty slipped 77.95 points or 0.66 percent.
Yes Bank was the top gainer in the Sensex pack on Friday, followed by SBI which rallied 7.19 percent after the lender reported a nearly six-fold jump in consolidated net profit for the second quarter ended September.
ICICI Bank, Sun Pharma, TCS, HCL Tech, Maruti, Bharti Airtel and Infosys too rose up to 3.18 percent.
On the other hand, Tata Motors, Vedanta, HDFC, Kotak Bank, Hero MotoCorp and NTPC tumbled up to 4.87 percent.
"As the result season has started so the market may wait for any significant change in the overall outlook and so is expected to trade within a broad range of 11,000 to 11,700 for the coming days.
"The impact of results will be seen on individual stocks and as a sector, auto, realty and big private banks are expected to perform better than the rest of the market as they are likely to see recovery in sales from this quarter.
"For the start of Samvat 2076, the stock market scene is more uncertain than it was in the last few years. I expect the market to be a lot more volatile in Samvat 2076 and that will filter out weaker and fragile businesses from the market," said Romesh Tiwari, Head of Research, CapitalAim.
Sectorally, BSE bankex, IT, teck, realty, oil and gas, finance and healthcare indices ended up to 1.07 percent higher.
On the other hand, consumer durables, telecom, industrials, power, utilities and capital goods declined up to 1.78 percent.
Broader BSE midcap index ended on a flat note, while BSE smallcap index slipped 0.39 percent.
Globally, equities were held back by mixed corporate earnings and fresh uncertainties on the Brexit front.
In Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended on a mixed note.
Markets in Europe were trading in the red in their respective early deals.
Meanwhile, the Indian rupee appreciated 12 paise to 70.90 against the US dollar intra-day.
Brent crude futures, the global oil benchmark, slipped 0.18 percent to $61.56 per barrel.
Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply
Axis Bank was the top gainer in the Sensex pack, rising around 2%, followed by Bajaj Finance, SBI, Reliance Industries, ONGC and UltraTech Cement
Market roundup: Sensex falls to 49,099.99, Nifty settles at 14,529.15 amid sell-off before release of Dec GDP data
All the shares in the BSE Sensex closed in red on Friday with ONGC being the top loser, shedding 6.6 percent, followed by Mahindra & Mahindra, Bajaj Finserv, and Axis Bank
Stock Market roundup: Sensex surges 750 points, Nifty above 14,750; key stocks that moved most today
The market began on a good note, gaining around 1.5 percent on the back of positive domestic data and auto sales number on the first day of March