Sensex snaps 7-day losing streak on bargain hunting, ends 61 points higher on Friday
The benchmark indices on Friday settled higher thanks to early rollovers to January series and bargain hunting at lower levels after market witnessed seven straight sessions of losses. The S&P BSE Sensex finished at 26,040, up 61 points, while the broader Nifty50 closed at 7,985, up 6 points. The market breadth, indicating the overall health of the market, remained negative. On the BSE, 1,309 shares fell and 1,249 shares rose. A total of 174 shares were unchanged.
BSE Capital Goods and BSE Consumer durables were the top sectoral gainers and added nearly 1%.
Cipla was the top Sensex gainer and surged 4%, bouncing back 6.5% from intra-day low, after the pharmaceutical company said its flagship product Sereflo received final approval from UK health regulator.
Among other gainers, Sun Pharmaceutical Industries rose over 2% after the drug maker said on Thursday it had acquired Novartis AG’s cancer drug, Odomzo.
Shares of sugar companies rallied up to 15 on back of heavy volumes. Dwarikesh Sugar Industries, Oudh Sugar Mills, Upper Ganges Sugar, Parrys Sugar Industries, Uttam SugarMills, Dharani Sugar & Chemicals, Mawana Sugars, Rajshree Sugars and Simbholi Sugars were up 8% to 15% on the BSE in intraday deals.
Among losers, BSE Realty index declined the most led by losses in Oberoi Realty (down 1.71%), Unitech (down 1.69%), DLF (down 1.56%) and Phoenix Mills (1.45%).
