Sensex climbs 83 points; auto stocks shine; Hero MotoCorp, Tata Motors rally up to 4%
The Sensex ended at 35,657, up 83.31 points, while the broader Nifty50 settled at 10,772, up 22.90 points.
The Sensex and Nifty ended higher on Friday, posting their sixth weekly gain in seven, while sentiment across the globe improved as investors calmly absorbed the imposition of tariffs by the United States and China. The Sensex ended at 35,657, up 83.31 points, while the broader Nifty50 settled at 10,772, up 22.90 points.
In the broader market, the BSE Midcap and the BSE Smallcap indices added 0.6 per cent and 0.7 per cent, respectively.
Market breadth, indicating the overall health of the market, remained positive. On the BSE, 1,451 stocks rallied, 1,197 stocks declined, while 134 stocks remained unchanged.
"Nifty settled marginally higher amid volatility, reflecting prevailing cautiousness among the participants. It retested hurdle around 10800 twice but couldn't sustain in the end however buying in select index majors and recovery in broader market eased some pressure," said Jayant Manglik, President, Religare Broking.
"Markets are largely trading in tandem with global peers which are also facing difficulty mainly due to prevailing trade war between the US and China. Besides, rise in crude oil prices and weakness in rupee has further dampened the sentiment. We feel the situation would improve with the beginning of the earnings season as focus will return to the domestic factors. Amid all, indications are in favour of fresh surge in banking pack and that could trigger the next directional move in Nifty. We advise maintaining positive bias with focus on stock selection," he added.
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The top gainers on the Sensex were Hero MotoCorp, Tata Motors, Tata Motors (DVR), Bajaj Auto and Tata Consultancy Services (TCS) whereas HDFC, Sun Pharma, NTPC, Wipro and Vedanta were the major losers.
On Nifty, Hindustan Petroleum, Hero MotoCorp and Tata Motors were the highest gainers while Cipla, Tech Mahindra and Bharti Infratel lost the most.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 159.37 crore on net basis, while domestic institutional investors (DIIs) also sold equities to the tune of Rs 296.97 crore yesterday, provisional data showed.