Mumbai, August 28
Extending its profitable run for the sixth session, BSE benchmark Sensex rallied 354 factors on Friday, boosted by positive aspects in bank stocks amid persistent overseas fund inflows.
After touching a excessive of 39,579.58, the BSE Sensex ended 353.84 factors or 0.90 per cent greater at 39,467.31.
The NSE Nifty surged 88.35 factors or 0.76 per cent to shut at 11,647.60.
IndusInd Bank was the highest gainer within the Sensex pack, spurting over eight per cent, adopted by Axis Bank, ICIC Bank, Solar Pharma, SBI and Kotak Bank.
Alternatively, PowerGrid, Infosys, Maruti, NTPC, Asian Paints, HUL, M&M and Tata Metal have been among the many laggards.
Market temper remained exuberant on hopes of a speedy financial restoration and additional fiscal and financial assist, stated Sanjeev Zarbade, VP PCG Analysis, Kotak Securities.
Sturdy overseas fund inflows, led by excessive international liquidity and decline in US greenback, additionally fuelled the markets, he added.
Overseas institutional traders purchased equities worth a internet Rs 1,164.32 crore on Thursday, exchange knowledge confirmed.
A pointy appreciation within the rupee too supported investor sentiment. The home forex strengthened 43 paise to finish at 73.39 in opposition to the US greenback.
In the meantime, bourses in Shanghai, Hong Kong and Seoul ended with positive aspects after US Federal Reserve Chairman Jerome Powell stated the central bank will stay accommodative and shift to a extra relaxed method on inflation.
Stock exchanges in Europe have been buying and selling on a blended notice in early offers.
International oil benchmark Brent crude was buying and selling 0.35 per cent decrease at USD 45.44 per barrel. PTI