Sensex rallies 215 points, Nifty above 9,950; metal, oil and gas, power stocks in demand

Mumbai: Stock market moved on to a higher platform on Friday, with the benchmark Sensex rallying 215 points and the Nifty cruising above 9,950.

Fund houses carried on with buying across the board. Metal, oil and gas, power stocks were on a roll amid supporting Asian leads.



Expectations ran high as the GST Council meeting is set to take a call on providing relief to exporters and SMEs.

The BSE Sensex hit 31,807.29 at 1122 hours, up 215.26 points, or 0.68 percent. The NSE Nifty traded at 9,966.30, higher by 77.60 points -- or 0.78 percent -- from its previous close.

Tata Steel rallied 4.04 percent while NTPC and SBI rose up to 2.99 percent.

Asian stocks reflected US optimism after data sets and comments from Federal Reserve officials pointed to the US economy gaining strength, signalling a gradual global revival. Chinese and South Korean markets were closed.

The US markets posted solid gains and closed at all-time highs yesterday, spurred by gains in technology stocks.

Share outflow from foreign portfolio investors (FPIs) continued at net Rs 656.50 crore yesterday, showed provisional data from exchanges. Domestic institutional investors (DIIs) remained net buyers, picking up shares net Rs 519.03 crore.

Updated Date: Oct 06, 2017 12:26 PM