The BSE benchmark Sensex and NSE Nifty surged for the third consecutive day on Friday. The Sensex rallied 337 points, led by gains in energy, banking and IT stocks as global investor sentiment improved on hopes of a trade truce between the US and China. Also, they cheered the government’s assurance for the ailing domestic auto sector.
The 30-share index ended 337.35 points, or 0.92 percent, higher at 36,981.77. It hit an intra-day high of 37,012.98 and low of 36,727.66.
Similarly, the broader NSE Nifty settled 98.30 points, or 0.91 percent, higher at 10,946.20. During the day, the index touched a peak of 10,957.05 and a low of 10,867.45.
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Top gainers in the Sensex pack included Tech Mahindra, Maruti, NTPC, Axis Bank, Tata Steel, Bajaj Auto, Tata Motors, Bajaj Finance, M&M and Kotak Bank, rising up to 3.77 percent
On the other hand, Yes Bank, Sun Pharma, TCS, HCL Tech, HUL and ITC were among the losers, shedding up to 2.42 percent.
According to experts, regular news flow from the RBI and the finance ministry have helped to stabilise equity markets lately.
Autos led gains on Friday for the second straight session, and the index closed up 2.61 percent. Minister of State for finance Anurag Thakur said the government was open to taking car-makers’ requests for lower taxes to the tax council, a day after industry bosses urged New Delhi to revive the sector plagued by plunging sales and job losses.
Eicher Motors was the top gainer on the NSE Nifty, ending 4.15 percent higher, while Indiabulls Housing Finance, down 4.97 percent, was the top loser.
Investors were further calmed by news of the upcoming resumption of talks between China and the US, they added.
Elsewhere in Asia, Hang Seng, Shanghai Composite Index, Nikkei and Kospi settled in the green.
Exchanges in Europe were also trading in the positive zone in their respective early sessions.
The Indian rupee appreciated 16 paise (intra-day) to trade at 71.68 per US dollar.
Global oil benchmark Brent crude was trading flat at $60.94 per barrel (intra-day).
(With inputs from agencies)
Updated Date: Sep 06, 2019 16:41:56 IST