Mumbai: Snapping its six-session falling streak, equity benchmark BSE Sensex ended 51.81 points higher on Friday, led by select finance and private bank stocks.
While subdued corporate earnings, foreign fund outflows and weak global cues continue to weigh on the markets, hopes of above-average rainfall in the next two weeks buoyed investor sentiment to some extent, traders said.
After a choppy session, the 30-share Sensex ended 51.81 points or 0.14 percent higher at 37,882.79. Similarly, the broader NSE Nifty rose 32.15 points or 0.29 percent to settle at 11,284.30.
During the week, the Sensex lost 454.22 points or 1.18 percent, while the Nifty fell 134.95 points or 1.18 percent.
Yes Bank was the top gainer in the Sensex pack Friday, rallying 9.64 percent. Bajaj Finance soared 7.20 percent after the company posted its highest-ever quarterly consolidated net profit at Rs 1,195 crore for the June quarter.
Other gainers included Hero MotoCorp, M&M, Bajaj Auto, Tata Motors, Asian Paints and Kotak Bank, rising up to 3.21 percent.
Maruti Suzuki inched up 0.78 percent after the company reported a 31.67 percent decline in consolidated net profit at Rs 1,376.8 crore for the June quarter.
Vedanta, RIL, Bharti Airtel, ONGC, HDFC, Tech Mahindra, HCL Tech and Infosys were among the top losers, falling up to 4.26 percent.
"Market recovered after six consecutive days of fall while the recovery was not solid due to concern on Q1 earnings. Expectation of above-average rainfall in coming weeks provided some respite to broad indices.
"A decisive up-move will require liquidity from FIIs which is now in doldrums while any signs of stability and development in economic activity can change the situation," said Vinod Nair, Head of Research, Geojit Financial Services.
Sectorally, the BSE auto, bankex, capital goods, healthcare, industrials, finance and consumer durables indices ended up to 1.98 percent higher.
However, energy, IT, teck, oil and gas, utilities and power lost up to 1.01 percent.
The broader BSE midcap and smallcap indices outperformed the benchmarks, rising up to 0.53 percent.
On a net basis, foreign institutional investors sold equities worth Rs 126.65 crore Thursday, while domestic institutional investors purchased shares to the tune of Rs 398.53 crore, provisional data available with stock exchanges showed.
Elsewhere in Asia, most bourses ended on a negative note. Hang Seng, Nikkei and Kospi ended in the red, while Shanghai Composite Index settled in the green. Bourses in Europe were also trading in the positive terrain in their early sessions.
On the currency front, the Indian rupee appreciated 7 paise to 68.97 against the US dollar (intra-day).
Meanwhile, the global oil benchmark Brent crude futures rose 0.50 percent to $63.71 per barrel.
Updated Date: Jul 26, 2019 17:53:32 IST