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Sensex rises 138 points, Nifty ends at 15,856; ICICI Bank, ITC, SBI, HCL Tech top gainers

Sensex rises 138 points, Nifty ends at 15,856; ICICI Bank, ITC, SBI, HCL Tech top gainers

ICICI Bank was the top Sensex gainer rising 3.18% per cent followed by ITC, SBI, HCL Tech, Axis Bank, Bajaj Finserv and Tech Mahindra

BSE mid cap and small cap indices ended 16 points lower and 28 points higher, respectively. BSE mid cap and small cap indices ended 16 points lower and 28 points higher, respectively.

Benchmark indices ended higher in the last trading session of the week amid positive global cues. Sensex rose 139 points to 52,975  and Nifty gained 32 points to 15,856.

ICICI Bank was the top Sensex gainer rising 3.18% per cent followed by ITC, SBI, HCL Tech, Axis Bank, Bajaj Finserv and Tech Mahindra.

L&T, HUL, Reliance Industries and NTPC were among the top Sensex losers falling up to 1.80%.

Of 30 Sensex stocks, 21 ended in green.

BSE mid cap and small cap indices ended 16 points lower and 28 points higher, respectively.

Commenting on the outlook for Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short-term uptrend of Nifty remains intact. There is a possibility of further consolidation or minor downward correction from the highs in early next week. A sustainable move above 15,900 could open next upside towards 16,100 levels in the short term. Any weakness could find support at 15,750 levels."

Banking stocks led the gains with BSE bankex rising 470 points to 39,832. However, consumer durables and capital goods shares led the losses with their indices falling 203 points and 182 points, respectively.

Market breadth was negative with 1,579 shares closing higher against 1,667 stocks ending loswer on BSE.

Market cap of BSE-listed firms rose to Rs 235.11 lakh crore.

Listing out factors that will affect stock market going ahead, Shibani Kurian, Senior EVP & Head- Equity Research, Kotak Mahindra Asset Management Company said, "Pace of vaccinations needs to be monitored which is important to guard India from third COVID wave. Few other factors that will likely decide the market movement include (a) Progress of monsoon and sowing of Kharif crop for summer season (b) global liquidity and global interest rates and improvement in global GDP and ( c) the trend of inflation in many global commodities like crude oil and steel and (d) pace of corporate earnings growth in India."

The rupee pared early losses to close 6 paise higher at 74.40 against the US dollar following gains in the domestic equities.

At the interbank forex market, the domestic currency witnessed heavy volatility. The local unit opened weak at 74.55 a dollar and touched a low of 74.58 in morning trade. On Thursday, the rupee had settled at 74.46.

Global markets

Benchmarks rose in Paris, London and Frankfurt but fell in Hong Kong and Shanghai. Tokyo was closed for a holiday.

Germany's DAX added 0.6% to 15,607.15. In Paris, CAC 40 also rose 0.6%, to 6,522. Britain's FTSE 100 surged 0.7% to 7,016. The future for the Dow Jones Industrial Average was 0.3% higher, while the future for the S&P 500 gained 0.4%.

Hang Seng in Hong Kong lost 1.5% to 27,321 and Shanghai Composite index gave up 0.7% to 3,550.

On Thursday, S&P 500 rose 0.2% to 4,367.48. Dow Jones Industrial Average added 0.1% to 34,823. The Nasdaq composite gained 0.4% to 14,684.

Meanwhile, international oil benchmark Brent crude declined 0.01 per cent to USD 73.78 per barrel.