Sensex, Nifty close higher; metal, capital goods shares top gainers

Benchmark indices managed to end in the green on Friday despite fag-end volatility trimming most of the day's gains. Sensex climbed 59.15 points or 0.10 per cent to end at 58,833.87. During the day, the 30 stock index jumped 546.93 points or 0.93 per cent to 59,321.65. Nifty gained 36.45 points or 0.21 per cent to end at 17,558.90. NTPC, Titan, Power Grid, Kotak Mahindra Bank, Larsen & Toubro, Tech Mahindra, Tata Steel and Mahindra & Mahindra were among the top Sensex gainers, rising up to 2.80 per cent.

IndusInd Bank, HDFC, Asian Paints and Bharti Airtel were the top losers, falling up to 1.92 per cent.

Share Market update: Sensex rises 59 pts, Nifty above 17,550; Titan, NTPC top gainers

"Investors' lack of confidence and caution in anticipation of the Fed chair's remarks led to a significant sell-off towards the close of the session. Western markets are trading with cuts as they await clues on further policy actions by the Fed to tame elevated inflation. This is expected to impact demand," said Vinod Nair, Head of Research at Geojit Financial Services.

Mid-cap and small-cap indices on BSE gained 99 points and 100 points, respectively. Consumer durables, capital goods and metal stocks were the top sectoral gainers with their BSE indices zooming 620 points, 394 pts and 304 pts, respectively.

Market breadth was positive with 1,991 stocks ending higher against 1,428 stocks falling on BSE. 146 shares were unchanged.

Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "A small negative candle was formed on the daily chart with minor upper and lower shadow. The Friday's candle was placed within a long bear candle of previous session. Technically, this action indicates range movement in the market with high volatility. Nifty managed to sustain the upper levels in the last four sessions, after a beginning with a steep negative note from the crucial overhead resistance from last week. This pattern hints at a possibility of one more attempt of upmove towards 17700-17800 levels by next week."

Market cap of BSE-listed firms rose to Rs 276.96 lakh crore. Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 369.04 crore on Thursday, as per exchange data.

Meanwhile, the rupee rose 6 paise to close at 79.86 (provisional) against the US dollar on Friday, supported by foreign fund inflows and a positive trend in domestic equities.

Previous session

Benchmark indices ended lower on Thursday as a fag-end sell-off erased early gains, with IT and banking stocks falling amid monthly derivatives expiry.

Sensex closed 310.71 points lower at 58,774.72. During the day, it hit a high of 59,484.35 and a low of 58,666.41. Nifty dropped 82.50 points or 0.47 per cent to end at 17,522.45.

Global markets

In Asia, markets in Seoul, Tokyo, and Hong Kong ended in the green, while Shanghai closed with losses. Stock markets in Europe were trading lower during mid-session deals. Wall Street had ended with gains on Thursday. Meanwhile, the international oil benchmark Brent crude jumped 1.14 per cent to $100.5 per barrel.