Domestic equity markets gained over 0.6 per cent on Friday as upbeat US economic growth data calmed nerves after a bruising selloff in global equities earlier this week. The BSE Sensex and NSE Nifty on Friday closed 161.0.6 points and 53 points higher at 26,392 and 8,001.95, respectively.
Among the sectoral indices on the BSE, the BSE TECk index surged the most — 1.76 per cent at 6,110.78, it was followed by BSE IT index (up 1.52 per cent) and BSE Auto index (up 1.01 per cent).
In the 50-share Nifty index, Vedanta (up 5.65 per cent), ONGC (up 5.58 per cent), ZEEL (up 4.57 per cent), Cairn India (up 4.38 per cent) and NMDC (up 4.29 per cent) stood top gainers. On the other hand, Lupin, Punjab National Bank, Ambuja Cements, Sun Pharma and Coal India declined 2.30 per cent, 1.88 per cent, 1.81 per cent, 1.55 per cent and 1.55 per cent, respectively, and stood at the bottom of the performance chart of the index.
Dipen Shah, head, private client group research, Kotak Securities said, “Markets ended the week on a positive note as concerns on China were overshadowed by the positive US data and stability in Chinese markets. The sharp rise in crude prices overnight had some impact on downstream oil companies but the upstream oil companies were major gainers.”
Market breadth for the day remained positive as advances to declines ratio for Nifty stood at 32:18 for the day.
The benchmark BSE Sensex on Friday opened at 26,542.84 and touched a high and low of 26,687.33 and 26,270.17, respectively. NSE Nifty opened at 8053.70 and touched a high and low of 8,091.80 and 7,961.65.
Shreyash Devalkar, fund manager, equities, BNP Paribas Mutual Fund, said, “Markets began trading for the September series on a positive note after encouraging trends from US markets. Cues from Asia were positive which helped in maintaining sharp gains recorded during the early part of trade. Profit taking at higher levels saw the markets giving up more than half the gains in the second half.”
Share price of ONGC stayed in focus and surged almost 7 per cent intraday after the PSU received a crucial one-year extension to explore in a Vietnam oil block. The share price of the company closed 5.55 per cent higher at Rs 243.55.
Among day’s major market moving events, Chinese markets continued to rally and closed for the day with hefty gains over Thursday’s closing levels. CSI300 index rose more than 4.3 per cent in the day while Shanghai Composite was seen up more than 4.9 per cent in the day. At the same time, Hang Seng closed for the day down by 1.04 per cent. Nikkei 225 too rallied and was up by 3.02 per cent towards the end of the day.
Wall Street rose sharply on Thursday, thanks to revised US gross domestic product data showing the economy grew faster than initially thought in the second quarter – a reassuring sign amid worries over deepening economic woes in China.
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Markets through the day
3.11 pm: Japan’s benchmark Nikkei 225 index climbed 3 per cent after lackluster monthly data on inflation and household spending raised hopes of further stimulus. The Shanghai Composite Index in mainland China rose around 5 per cent, adding to its 5.3 percent gain on Thursday, which was its first increase in six days, during which it shed nearly 23 percent.
3.08 pm: Europe’s stock markets opened higher on Friday following strong gains across Asia inspired by revised second quarter figures in the US indicating better economic growth than previously thought. In initial trade, London’s benchmark FTSE 100 index gained 0.24 per cent to 6,207.05 points. In the eurozone, Frankfurt’s DAX 30 edged up 0.20 per cent to 9,687.70 and the CAC 40 in Paris crept 0.12 percent higher to 4,663.98 points.
2.50 pm: Sensex was up 101 points at 26,332.
Shares of Strides Arcolab jumped as much as 5 per cent on Friday after the company announced that the High Court of Bombay has approved the Scheme of Amalgamation involving merger of Shasun Pharmaceuticals with the Company.
1.48 pm: Sensex up 179.09 points at 26,410.28, while Nifty is up 56.90 points at 8,005.85
1.16 pm: Kalpataru Power Tranmission (KPTL) shares gained as much as 4.6 per cent on Friday after the company informed stocks exchanges that it has bagged new order worth Rs 880 crore in both domestic and international markets. Sensex was up 253 points at 26,484.
1.14 pm: the scrip was trading 0.87 per cent higher at Rs 254.50. It opened at Rs 252.50 and had touched a high and low of Rs 267 and 252.50, in trade so far.
12.47 pm: Gammon Infrastructure Projects shares jumped as much as 13.8 per cent on Friday. At the time, the scrip was trading 5.25 per cent higher at Rs 12.02. Sensex and Nifty were up 406 points and 127.15 points at 26,638 and 8,076, respectively.
12.33 pm: Cairn India was trading 5.69 per cent higher at Rs 147.60. It opened at Rs 147.80 and touched a high and low of Rs 147.80 and 150.50, in trade so far. Sensex was up 395 points at 26,626.
12.20 pm: Shares of Cipla on Friday soared nearly 3 per cent in morning trade on bourses after the company said it expects 20 per cent growth in revenues in the current fiscal. At 12.20 pm, it was trading 1.07 per cent higher at Rs 668.25.
11.21 am: The BSE Midcap index was up 1.35 per cent at 10,883.45. The BSE Smallcap index was up 1.44 per cent at 11,143.54. Sensex was up 1.30 per cent at 26,573.
10.46 am: In the 30-share index, M&M, ITC and Sun Pharma were trading red. Vedanta, ONGC and NTPC were up over 4 per cent. Sensex was up 371 points at 26,603.
10.23 am: BSE Sensex rallied over 450 points in the morning trade on continued buying by investors as the September series in the derivatives segment began on a strong note.
9.51 am: Sensex was up 344.70 points at 26,575.89.
9.33 am: Shares of BPCL turned ex-dividend on Friday, for dividend of Rs 22.50 per share for the year ended March 31, 2015.
9.30 am: Sensex and Nifty were up 269 points and 88.05 points at 26,500.24 and 8,037.
Domestic equity markets opened higher on Friday tracking strong global cues. The BSE Sensex and NSE Nifty opened 311.65 points and 104.75 points higher at 26,542.84 and 8,053.70.
All the sectoral indices on the Bombay Stock Exchange opened in green.
Asian stocks extended their recovery into the final trading day of the week as investors cheered a second day of gains in Chinese and U.S. markets.
On Thursday, the key benchmark indices soared over 2 per cent on the back of strong global markets amid F&O expiry. The BSE Sensex and NSE Nifty gained 516.53 points and 157.10 points at 26,231.19 and 7,948.95, respectively.
Adi Godrej, chairman, Godrej Group said, “I am bullish on Indian economy. Volatility in global markets has not affected the country much compared to others. Implementation of GST will drive our growth to double digits.”
(With inputs from Reuters)
