Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally
The benchmark indices ended higher on Friday with the Nifty50 settling above its crucial 9,950 mark, buoyed by a jump in Tata Steel on strong quarterly production numbers, while investors stayed cautious as Goods and Services Tax (GST) Council meeting went underway.
The Council is likely to give a major relief to exporters as well as small and medium enterprises (SMEs).
Tata Steel, Sun Pharma, NTPC, SBI, HUL, Bajaj Finance, GAIL and Hindalco Industries lead the rally.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,703 shares rose and 963 shares fell. A total of 111 shares were unchanged.
The BSE Midcap and the BSE Smallcap indices outperformed to gain 1% each.
The Nifty Metal index was the leading sectoral gainer, followed by Nifty PSU Bank.
Granules India rose over 3% to Rs 118 on BSE after the company said that it has received establishment inspection report from the US drug regulator for Vizag facility.
Ashoka Buildcon gained 5.2 percent intraday Friday as the company received arbitration award worth Rs 124 crore.