Sensex darts over 280 points, Nifty above 10,800 at close, telecom stocks fall

The benchmark BSE Sensex rose over 380 points on Friday, as investors looked forward to release of key macroeconomic data amid positive global cues.

Optimistic buying in blue-chip stocks ahead of industrial production and inflation data, to be released after market hours, drove stocks higher, brokers said.

At close, the BSE Sensex had jumped 289.52 points or 0.82% to end at 35,535.79. The broader NSE Nifty too closed 89.95 points or 0.84% higher at 10,806.50

Sectoral indices led by metals, banks, oil and gas, capital goods, FMCG and consumer discretionary goods led the gains, rising up to 1.56%. BSE Telecom, however, lost 4.25% on Friday, with shares like Bharti Airtel and Idea taking a hit after Reliance Jio unveiled its new Rs 199 postpaid plan.

Major gainers were Asian Paints, Tata Steel,L&T, Yes Bank, HDFC, Kotak Bank, ITC and HDFC Bank, rising by up to 6.17%.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 900.69 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 364.88 crore on Thursday, as per provisional data.

The US Dow Jones Industrial Average ended 0.80% higher on Thursday.