Sensex surges 177 pts, Nifty ends at 11,665; financials rally


The benchmark indices ended on a positive note on Friday after two consecutive sessions of losses, lifted by a sudden surge in the last 15 minutes on a day when the indices remained rangebound for the majority of the duration.

The S&P BSE Sensex ended at 38,862.23, up 177.51 points, or 0.46 per cent, with Tata Steel being the top gainer and State Bank of India being the biggest loser. About 1,500 shares advanced, 1,049 shares declined, and 165 shares remained unchanged.

The NSE’s Nifty50 index closed above 11,650 level at 11,665.95, up 68 points, or 0.59 per cent.

Metal stocks advanced the most, followed by realty and IT counters. The Nifty Metal index ended almost 2 per cent higher at 3,132.35.

On a weekly basis, the S&P BSE Sensex ended 0.49 per cent higher while the NSE Nifty 50 gained 0.36 per cent on a weekly basis.

In the broader market, the S&P BSE Midcap index surged 97 points or 0.63 per cent to close at 15,509. The S&P BSE SmallCap rose 108 points or 0.72 per cent to end at 15,046.

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Indices end higher as PM Modi likely to win no-trust vote


Benchmark indices gained on Friday, as the Modi government is expected to win the no-confidence vote, to be held at 6 pm today. In the 545-member (including the Speaker) Lok Sabha, the BJP-led NDA can bank on around 311 members.

The S&P BSE Sensex ended the day at 36,496, up 145 points while the broader Nifty50 index settled at 11,010, up 53 points.

IT and pharma stocks gained as the rupee hit an all-time low. The Nifty IT index was trading up by 1.5 per cent with Infosys, Tech Mahindra and HCL Tech up between 1.6 per cent to 2.6 per cent. Meanwhile, in the pharma sector, Sun Pharma and Cipla gained over 2.5 per cent each.

Among individual stocks, Bajaj Finserv hit a record high, after the Bajaj Group-owned asset & wealth management firm posted a 41 per cent surge in its first-quarter profit on Thursday.

Bajaj Auto, on the other hand, dipped 9 per cent after the company reported a lower than expected 21% year on year (YoY) growth in standalone net profit Rs 11.15 billion in June quarter (Q1FY19). Analysts on an average had expected a profit of around Rs 13 billion for the quarter

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