Sensex, Nifty end higher for second straight session; auto shares gain

The Indian market ended higher for the second straight session on Friday amid strong global cues. Sensex rose 462 points to 52,727 and Nifty gained 142 points to 15,699. The market cap of BSE-listed firms rose to Rs 242.21 lakh crore against Rs 239.64 lakh crore in the previous session.

M&M, IndusInd Bank, Bajaj Finance and HUL Bharti Airtel were the top Sensex gainers, rising up to 4.28 per cent. Tech Mahindra, Infosys, HCL Tech and TCS were the top Sensex losers, falling up to 1.03 per cent. Of 30 Sensex stocks, 23 ended higher.

Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities said, "Post correction over past couple of weeks, equity markets ended this week with positive returns. Major key indices and most sectoral indices gained during the week. Auto sector led the recovery amid softening in commodity prices. On the other hand, BSE Metal, BSE Energy and BSE Oil & Gas indices underperformed the broader markets. Correction in crude oil prices from recent peak and softening in commodity prices offered some relief to the markets in an otherwise high global inflation environment. Monsoon progress is an important factor to watch as good monsoon would calm concerns with respect to food inflation. Equity markets in the near term are expected to continue reacting to news related to inflation, monetary policy and commodity price movement."

Share Market update: Sensex rises 462 pts, Nifty at 15,700; M&M, IndusInd top gainers

Consumer durables and auto stocks were the top sectoral gainers with their BSE indices ending 511 pts and 512 points higher, respectively.

Market breadth was positive with 2,403 stocks ending higher against 905 stocks falling on BSE. 140 shares were unchanged.

"Mirroring a firm trend in the global market and in response to declining commodity prices, the domestic market maintained its positive trend. The up-move was supported by broad-based buying except in IT," said Vinod Nair, Head of Research at Geojit Financial Services.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 2,319 crore on Thursday, as per exchange data.

In the previous session, the Indian market ended higher led by gains in auto and IT shares amid mixed global cues. Sensex rose 443 points to 52,265 and Nifty ended 143 points higher at 15,556.

Meanwhile, rupee fell 1 paisa to end at all-time low of 78.33 today against the US dollar. During the day, the local currency witnessed an intra-day high of 78.19 and a low of 78.35 against the dollar.

Global markets

Elsewhere in Asia, markets in Tokyo, Seoul, Hong Kong and Shanghai ended with sharp gains. European markets were also trading in the green in mid-session deals. The US markets ended in the green on Thursday.