INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Led by gains in bank and financial stocks, key equity indices snapped two-day losing streak in Friday's session amid bullish
global cues.
Firmness in rupee also boosted market sentiment.
BSE Sensex ended day at 35,695, up 181 points or 0.51 per cent with 20
constituents in green and 10 in red
Meanwhile, Nifty50 settled day at 10,727, 55 points or 0.52 per cent higher
However, for week Sensex and Nifty ended lower by 1 per cent each, respectively
Among Sensex stocks, YES Bank climbed most
It was followed by Bharti Airtel, Tata Motors, Vedanta, Tata Steel and SBI
Technology stocks suffered in today's trade with HCL Tech, TCS and Infosys topping loser list in 30-share pack.
Among Nifty50 stocks, 33
advanced and 17 declined.
Midcap and smallcap stocks on BSE climbed too and logged gains of 0.48 per cent and 0.14 per cent,
respectively.
In sectoral space, BSE Telecom was biggest gainer, surging 2.73 per cent
It was trailed by metals, utilities, power, finance and bankex
Each of these indices logged gains of 1 per cent
However, BSE Information Technology was worst hit and shed 1.15 per cent
Factors:Global markets gainWorld stock markets rallied on Friday after Beijing announced a new round of trade talks with Washington, though
recession fears still had markets betting next move in US interest rates might be down
News that United States and China would hold vice-ministerial level talks on Monday and Tuesday to resolve a trade dispute bought some
respite to battered markets, with MSCI's world stock index up a third of a percent and US stock futures around 1 per cent firmer, Reuters
reported.
Rupee risesThe domestic currency gained 42 paise against US dollar in today's session amid weakening American currency
This bolstered sentiment back home
Expert TakeMarkets managed to end higher amid volatility, thanks to rebound in select index majors
We're currently seeing tussle between bulls and bears and indications are in favour of further slide
Global cues will continue to dictate trend in absence of domestic trigger thus participants should keep a close watch on world markets.
-
Jayant Manglik, President, Religare BrokingThe market attempted to recover, but with high volatility due to initial signs of ease between US
and China trade negotiations
Recent weak data from US and China provided a hope to market that both parties will try to find a peace soon
PSBs lead gains today due to consolidation and increase in capital infusion while IT underperformed due to appreciation in rupee.- Vinod
Nair, Head of Research, Geojit Financial Services
