Sensex zooms 428 points, Nifty ends near 12,100-mark; Axis Bank, Vedanta, SBI among top gainers

Market benchmark Sensex soared 428 points on Friday, tracking strong gains in global equities led by optimism over US-China trade deal and Boris Johnson's win in UK general elections

Press Trust of India December 13, 2019 16:13:13 IST
Sensex zooms 428 points, Nifty ends near 12,100-mark; Axis Bank, Vedanta, SBI among top gainers
  • After hitting a high of 41,055.80 points, the 30-share BSE Sensex ended 428 points, or 1.05 percent, higher at 41,009.71

  • Similarly, the broader NSE Nifty settled 114.90 points, or 0.96 percent, higher at 12,086.70

  • On a weekly basis, Sensex advanced 564.56 points or 1.39 percent and Nifty rose 165.20 points or 1.38 percent

Mumbai: The Sensex soared 428 points to close above the 41,000-mark on Friday as the US and China reportedly reaching a trade deal and Boris Johnson's win in UK general elections turbocharged global equity sentiment.

After hitting a high of 41,055.80 points, the 30-share BSE Sensex ended 428 points, or 1.05 percent, higher at 41,009.71.

Similarly, the broader NSE Nifty settled 114.90 points, or 0.96 percent, higher at 12,086.70.

On a weekly basis, Sensex advanced 564.56 points or 1.39 percent and Nifty rose 165.20 points or 1.38 percent.

Global markets surged after reports said the US has finalised a phase one trade deal with China in return for Beijing buying more American goods.

US President Donald Trump has reportedly given his final approval to the deal which would suspend tariffs that are set to kick in from Sunday, de-escalating their 17-month trade war.

Meanwhile, Boris Johnson secured a thumping parliamentary majority in the UK's general elections, ending the uncertainty over Brexit.

Sensex zooms 428 points Nifty ends near 12100mark Axis Bank Vedanta SBI among top gainers

Representative image. Reuters

Axis Bank was the top gainer in the Sensex pack, rallying 4.21 percent, followed by Vedanta 3.75 percent, SBI 3.39 percent, Maruti 3.20 percent, IndusInd Bank 3.07 percent and Yes Bank 2.87 percent.

On the other hand, Bharti Airtel slipped 1.98 percent, Kotak Bank 1.38 percent, Bajaj Auto 0.88 percent, Asian Paints 0.31 percent, HDFC Bank 0.05 percent and HUL 0.03 percent.

According to Narendra Solanki, Head Fundamental Research (Investment Services) - AVP Equity Research, Anand Rathi Shares & Stock Brokers, Indian markets shrugged off weak macroeconomic numbers released post-market on Thursday and ended in the green on positive global cues.

As per government data, rising food prices pushed the retail inflation in November to over three-year high of 5.54 percent, while the industrial sector output shrank for the third month in a row by 3.8 percent in October.

Markets continued to edge higher on hopes of positive announcements by Finance Minister Nirmala Sitharaman at a press conference post-market hours, Solanki added.

Sectorally, BSE metal, realty, IT, auto, capital goods, teck, bankex and finance indices ended up to 2.30 percent higher.

BSE telecom settled in the red.

Broader BSE midcap and smallcap indices closed up to 0.92 percent higher.

In the rest of Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo soared up to 2.57 percent.

Stocks in Europe were also trading significantly higher in opening deals.

On the currency front, the rupee appreciated 5 paise against the US dollar to 70.78 (intra-day).

Brent futures, the global oil benchmark, rose 1.07 percent to $64.89 per barrel.

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