Markets back to winning ways as IT stocks zoom
Realty to lead market in short term
Mumbai: Equity market benchmarks regained footing on Friday after two sessions of declines as IT, bank and energy stocks darted up amid firm global cues.
After a positive opening, the BSE Sensex overcame bouts of volatility to close 329.17 points, or 0.94 per cent, higher at 35,171.27. Similarly, the broader NSE Nifty surged 94.10 points, or 0.90 per cent, to finish at 10,383.
During the week, the Sensex advanced 439.54 points or 1.26 per cent, while Nifty gained 138.60 points or 1.35 per cent. IT and bank stocks emerged on top in Friday's session.
Infosys was the biggest gainer in the Sensex pack, rallying 6.94 per cent, followed by TCS, IndusInd Bank, ONGC, HDFC Bank and HCL Tech. On the other hand, ITC, Bajaj Finance, Kotak Bank and Sun Pharma shed up to 3.54 per cent.
According to traders, broad-based buying on the first day of the new monthly derivatives series and positive cues from global equity markets lifted the benchmarks.