Sensex gains 24 points, Nifty ends at 10,877 led by IT, Pharma


The domestic equity market signed off the first day of December F&O series on a positive note on Friday amid buying in pharmaceutical, information technology (IT) and automobile counters.

The S&P BSE Sensex ended at 36,194, up 24 points, or 0.1 per cent, while the broader Nifty50 index settled at 10,877, up 18 points, or 0.2 per cent.

In the broader market, the S&P BSE MidCap rose 0.6 per cent to settle at 15,039 levels, while the S&P BSE SmallCap settled 0.5 per cent higher at 14,427 levels.

The rupee traded on a firm note on Friday, rising to 69.59 against the US dollar in intra-day trade on the back of free fall in crude prices and heavy buying by foreign institutional investors (FIIs). The domestic unit on Thursday had breached the 70-mark for the first time since August 27 to end at a three-month high of 69.85 per US dollar.

Reliance Communications (RCom) rose 13 per cent to Rs 14.40 on the National Stock Exchange (NSE) on Friday after the Supreme Court asked RCom to furnish a corporate guarantee of Rs 14 billion within two days to get the No Objection Certificate (NOC) from the government. The corporate guarantee will be issued by Reliance Realty Ltd, a wholly-owned subsidiary of RCom.

The Nifty Pharma index rose 2 per cent led by a rise in shares of Biocon and Dr. Reddy’s Laboratories. The Nifty IT index gained 1.2 per cent led by Infosys and Tata Consultancy Services (TCS).

YES Bank ended 6.3 per cent higher at Rs 170.50 after a TV report said that the private bank’s promotor Rana Kapoor doesn’t have any ownership in Morgan Credits or Yes Capital.

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