The Sensex and Nifty closed higher today powered by gains in banking and metal stocks. While the Sensex closed 181 points higher at 35,695, Nifty ended 55 points in the green at 10,727 level. Of 30 Sensex stocks, 20 ended in the green.
YES Bank (3.34%), Vedanta (3.22%) and Tata Motors (2.89%) were the top Sensex gainers.
Top Sensex losers were HCL Tech (1.53%), Infosys (1%) and TCS (0.92%).
Top sectoral gainers were banking stocks with the BSE bankex gaining 284 points to 30,438 level.
Metal stocks rose after China's central bank cut the ratio of cash that banks must hold as reserves by 100 basis points (bps), as it looks to reduce the risk of a sharper slowdown in the world's second-biggest economy.
The reserve requirement ratios (RRRs) are currently 14.5 percent for large banks and 12.5 percent for smaller banks. The BSE metal index gained 159 points to 11,240.
The Jet Airways stock fell over 4% in trade today after the airline proposed to its lenders that revenue from ticket sales be securitised against outstanding debt. The small cap stock fell 4.31% to Rs 236.20 compared to the previous close of 246.85 level on the BSE. The stock closed at 245 level, down 0.69% on the BSE.
The Tata Motors stock rose in trade today after the homegrown firm's UK arm Jaguar Land Rover (JLR) reported strong sales in the US market. The large cap stock has gained after two days of consecutive fall. The stock touched an intra day high of Rs 171.90 rising up to 3.43% compared to the previous close of 166.20 on the BSE. JLR reported 24% higher US sales at 14,079 units in December 2018 compared to 11,394 units last year. The stock closed 2.74% higher at 170.75 level on the BSE.
Top sectoral losers were the IT stocks after the rupee was trading 40 paise higher at 69.80 compared to its previous close of 70.20.
The BSE IT index slumped 161 points to 13,894 level.
Meanwhile, the BSE mid cap and small cap indices closed 71.67 points and 19.73 points higher in trade today.
Market breadth was positive with 1339 stocks closing higher compared to 1263 ending lower on the BSE.
Oil rose toward $57 a barrel on Friday after China said it would hold talks with the United States to look for solutions to a trade dispute, while signs of lower crude supply also supported prices.
Brent crude, the global benchmark, rose 84 cents to $56.79 a barrel. US crude oil was up 81 cents at $47.90.
On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 972.81 crore on Thursday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 34.52 crore, provisional data available with BSE showed.
Japanese shares tumbled and Shanghai's benchmark surged Friday as Asian markets steadied following a technology-led sell-off on Wall Street.
The Nikkei 225 index started its first trading day of 2019 by falling more than 3 percent. By midday, it was trading 2.8 percent lower at 19,465.36 as technology and electronics makers slumped.
But Hong Kong's Hang Seng jumped 1.3 percent to 25,380.37. The Shanghai Composite rebounded 1.8 percent to 2,509.02.
US shares fell after Apple CEO Tim Cook told shareholders after markets closed Wednesday that Chinese iPhone sales were slipping. Cook said the company expects revenue of $84 billion in the last quarter of 2018, $7 billion less than analysts had forecast.
The broad S&P 500 index gave up 2.5 percent to 2,447.89 and the Dow Jones Industrial Average lost 2.8 percent to 22,868.22. The Nasdaq composite, which has a high concentration of tech stocks, declined 3 percent to 6,463.50.
Edited by Aseem Thapliyal