BSE Sensex ends 118 points highers on firm global cues, bank stocks

The BSE Sensex and Nifty ended higher amid volatile trading session led by expectation of further rate cut by the Reserve Bank of India (RBI) in the upcoming monetary policy review, firm global cues and some buying in banking shares.

While the 30-share Sensex ended 0.43 per cent higher at 27,324, the 50-share Nifty gained 0.46 per cent to 8,262.

Among the BSE sectoral indices, the BSE Consumer Durables index gained the most 0.81 per cent to 10,177.01, followed by BSE TECk index (up 0.69 per cent to 5,879.59), BSE FMCG index (up 0.67 per cent to 7797.77), S&P BSE Healthcare index (up 0.65 per cent to 16,537.55), BSE IT index (up 0.65 per cent to 10,578) and BSE Auto (up 0.59 per cent to 19,077.15).

On the other hand, BSE Realty index and BSE Consumer Durables index fell the most 1.33 per cent and 1.05 per cent to 1,541.1 and 9,883.52, respectively.

Overall market breadth remained strong on the Bombay Stock Exchange as 1,456 stocks ended with gains while 1,233 closed with losses. Advances to decline ratio for Nifty remained at 27:23. Volumes for Nifty stocks stood at 1,388 lakh against volumes of 1,749 lakh in Wednesday's trading session.

"Tracking firm cues from domestic front, equity markets witnessed a positive start on Friday, followed by a range bound move till the end. Sentiments turned upbeat as investors remained hopeful of RBI slashing the key policy rate in the upcoming monetary policy review, to fuel investments and propel growth. As a result, rate sensitive sectors like banking and auto remained on the traders' radar and managed to close with decent gains," Jayant Manglik, president, retail distribution, Religare Securities, said.

Among the Nifty stocks, Lupin, State Bank of India, HDFC, IndustInd Bank and Bharti Airtel stood the top performing stocks with gain of 3.83 per cent, 2.15 per cent, 1.78 per cent, 1.71 per cent and 1.45 per cent, respectively.

However, Bank of Baroda, Punjab National Bank, Vedanta, NTPC and Cain India dipped 2.55 per cent, 2.42 per cent, 2.26 per cent, 1.91 per cent and 1.26 per cent, respectively, and stood at the bottom of the performance chart of Nifty.

According to NSDL, foreign portfolio investors stood net buyers in the capital markets, bought shares worth Rs 352.99 crore.

Companies such as Asian Paints, HSIL, Somany Ceramics, Shivam Auto, Asian Star Company, Honda Siel Power Products and JBM Auto may announce their earnings on Monday.

For next week, Vivek Gupta, CMT, Director Research, Capital Via Global Research, says: "We are expecting some strong recovery from the markets. If Nifty May Future manages to cross the resistance zone of 8,295-8,300 it can test the levels of 8,395 and above. Long term charts too are indicating an up move. Either side, if Nifty breaches the support of 8,090; we can expect a sharp downfall."

Asian markets also ended Friday in green. Nikkei 225, Hang Seng and Singapore gained 0.83 per cent, 1.96 per cent and 0.21 per cent, respectively.