New Delhi: Domestic equity market benchmarks Sensex and Nifty bounced back from four-day losing streak to end higher on Friday led by gains in index heavyweights such as RIL, HDFC, TCS and HUL. However, weakness in HDFC Bank share price capped the gains.
Sensex jumped nearly 2,000 points from day’s low while Nifty 50 index touched 8,883 points in intraday trade. “Tracking positive sentiments in the global markets, Indian indices closed up by around 6%.
It was in sync with Asian and European markets and was more of a relief rally driven by technicals rather than any fundamental change in outlook. Hopes of further stimulus from Central banks across the world to contain the economic damage boosted global markets,” Vinod Nair, Head of Research at Geojit Financial Services said.
ONGC gained 18%- As many 28 stocks out of 30 Sensex stocks finished trade in green, with ONGC as the index gainer, up 18.58 per cent, followed by UltraTech Cement, HUL and RIL. While HDFC Bank and IndusInd Bank were the only losers on Sensex.
Nifty FMCG index jumped 8%- All the sectoral indices finished trade in green with Nifty FMCG and Nifty IT index as top gainer, up 8.77 percent and 8.52 per cent, respectively. Similarly, Nifty Metal index settled 7.68 per cent led by gains in Jindal Steel,Vedanta and Hindustan Zinc.
