Sensex up 428 on global cues; Nifty holds 12K ahead of FM presser
Indian equity markets edged higher for the third straight session as positive global cues fueled investors’ risk appetite. While metal stocks charged ahead during Friday’s trading session after US President Donald Trump said Washington and Beijing are very close to signing a “big” trade deal, auto stocks gained as Conservative leader Boris Johnson won election in the United Kingdom, paving way for Brexit-divorce deal by Janurary 31, 2020.
Besides, public sector banks (PSBs) rallied today after reports suggested that the government is considering increasing the government bond investment limit of foreign portfolio investors (FPIs) to at least 10 per cent of the outstanding, from 6 per cent now, with an aim to incorporate local bonds into global bond indices.
At close, the benchmark S&P BSE Sensex settled 428 points, or 1.05 per cent higher, at 41,009.71 level. Vedanta, Axis Bank, State Bank of India, ans Maurti Suzuki ended as the top gainers among the Sensex pack. On the contrary, Bharti Airtel, Bajaj Auto, and Asian Paints settled as top laggards.
On the NSE, the Nifty50 closed near 12,100-mark, up 114 points, or 0.95 per cent, at 12,085.70 level.
For the week, Sensex added 1.5 per cent, Nifty50 advanced 1.4 per cent, and Nifty Bank index gained 2.2 per cent.
Sectorally, all the indices ended the day with gains. Nifty PSU Bank index gained the most, up nearly 4 per cent, followed by Nifty Metal index (up 2 per cent).
In the broader market, both, the S&P BSE mid-cap and small-cap indices closed 0.89 per cent higher at 14,824.80 and 13,334.45, respectively.
