Mumbai: Domestic markets continued their bullish run on the back of gains in bank stocks on Friday amid persistent foreign fund inflows. The S&P BSE Sensex ended 353.84 points or 0.90 per cent higher at 39,467.31. It had earlier touched a high of 39,579.58.
The NSE Nifty surged 88.35 points or 0.76 per cent to close at 11,647.60.
The BSE gainers were led by IndusInd Bank (spurting over 8 per cent) followed by Axis Bank, ICIC Bank, Sun Pharma, SBI and Kotak Bank. Whereas, PowerGrid, Infosys, Maruti, NTPC, Asian Paints, HUL, M&M and Tata Steel were among the laggards.
Market mood remained exuberant on hopes of a speedy economic recovery and further fiscal and monetary support, Sanjeev Zarbade, VP PCG Research, Kotak Securities said.
Strong foreign fund inflows, led by high global liquidity and decline in US dollar, also fuelled the markets, he added.
Foreign institutional investors bought equities worth a net Rs 1,164.32 crore on Thursday, exchange data showed.
A sharp appreciation in the rupee too supported investor sentiment. The domestic currency strengthened 43 paise to end at 73.39 against the US dollar.
Meanwhile, bourses in Shanghai, Hong Kong and Seoul ended with gains after US Federal Reserve Chairman Jerome Powell said the central bank will remain accommodative and shift to a more relaxed approach on inflation.
