The BSE benchmark Sensex jumped 181 points on Friday while the NSE Nifty reclaimed the 10,700-mark, driven by robust buying in banking, metal and pharma stocks amid positive global cues and a strengthening rupee.
After swinging over 350 points intra-day, the 30-share Sensex finally settled 181.39 points, or 0.51%, higher at 35,695.10.
Similarly, the broader NSE Nifty ended 55.10 points, or 0.52%, up at 10,727.35.
During the week, Sensex fell 381.62 points and the Nifty shed 132.55 points.
The biggest gainers in the Sensex pack in Friday’s session were Yes Bank, Bharti Airtel, Tata Motors, Vedanta, SBI and Axis Bank, spurting up to 3.05%.
The losers included HCL Tech, TCS, Infosys, Hero MotoCorp, IndusInd Bank and Sun Pharma, falling up to 1.55%.
Sectorally, banking, financial services, metal and pharma indices rallied the most, jumping over 2%.
PSU bank stocks led the rally, with PNB, Union Bank, Bank of India, Andhra Bank and SBI surging up to 4%.
Global investor sentiment was upbeat ahead of a two-day trade talk between the U.S. and China.
A U.S. government delegation will visit China early next week for the first face-to-face talks since President Donald Trump and his Chinese counterpart agreed on a temporary truce in the trade war, China’s commerce ministry said.
On a net basis, foreign portfolio investors (FPIs) sold shares worth ₹972.81 crore on Thursday, while domestic institutional investors (DIIs) were net buyers to the tune of ₹34.52 crore, provisional data available with BSE showed.
Meanwhile, the rupee was trading 33 paise higher against the U.S. dollar at 69.87.
Brent crude futures rose 1.59% to USD 56.84 per barrel.
Elsewhere in Asia, Korea’s Kospi ended 0.83% higher, Hong Kong’s Hang Seng rallied 2.24% and Shanghai Composite Index jumped 2.05%. Japan’s Nikkei, on the other hand, dropped 2.26%.
In Europe, Paris CAC was up 1.17%, while Frankfurt’s DAX gained 1.72% in their early deals. London’s FTSE rose 1.14%.