Markets ended 86 points higher on Friday, buying in RIL and Banks took benchmark indices higher. Broader markets also witnessed buying but volatility came down indicating nervousness among the investors. Analysts believe the outlook is still positive but there could be some consolidation.
The 30-share pack Sensex rose 85.81 points, or 0.20 percent, to 43,443. The index bounced nearly 400 points from the day’s low amid a recovery in banking counters. Its broader peer NSE Nifty gained 29.15 points, or 0.23 percent, at 12,719.95.
Here are the key highlights from today’s trading session
- Indiabulls Real Estate surged over 9% after Jhunjhunwala picks stake.
- Tata Steel rises more than 3% ahead of Q2 earnings.
- India VIX falls over 4%, drops below 20-level.
- Broader markets outperform Nifty Midcap gains about 1%.
- 142 stocks hit 52-week high on festive season.
“Markets consolidated in a range and ended almost unchanged, in line with our view. After the initial downtick, the bias was largely on the positive side which aided closing around the day’s high. Consequently, the Nifty ended with marginal gains of 0.2% at 12,720 levels. Healthy buying was witnessed in the broader markets as the indices ended higher in the range of 0.9-1.1%. Mostly sectoral indices traded in tandem with the benchmark and ended in the green wherein metals, realty, and healthcare being the top gainer.” Said Ajit Mishra, VP – Research, Religare Broking.
