Markets gained grounds on Friday, advancing to end 2.3% up on positive global cues as European markets opened positive.
The Bombay Stock Exchange benchmark Sensex rallied since morning, buoyed by firm Asia and expectations of second stimulus package to revive the US economy.
Trading was green across the board, mainly led by the oil and gas, metal, banking, consumer durables and technology stocks.
The 30-share BSE Sensex today rebounded from Thursday’s 1.2% slip and ended 209.98 points up at 9,300.86 and the NSE Nifty traded above the 2,800mark closing at 2,843.10 or 63.05 points down.
Touching its one-year low, the declining inflation rate announced on Thursday at 5.07% on 24 January also influenced bullish sentiment in the market today.
Through most part of the day Reliance industries were rallying on the index. Reliance Industries surged by 4.41% to Rs1,343.50 and Reliance Infra, which was leading during midsession ended higher by 4.02% to Rs540.65.
Ranbaxy Laboratories was on top the rally by 7.08% to Rs223.80, along with Grasim Industries Ltd by 6.57% to Rs1,413.35, Tata Motors 4.64% to Rs137.60 and ICICI Bank by 4.09% to Rs406.95.
Auto sector that was battered in yesterday’s trade due to falling sales also revived. Tata Motors gained top by 4% and Mahindra and Mahindra by 2.77%.
Asian markets remained positive as they eagerly awaited Senate vote on $912 stimulus US. Hong Kong’s Hang Seng retained its upward trend for the third day and ended 4% and Japan’s Nikkei climbed by 1.6%.
