Reliance, Maruti propel key indices higher

Mumbai: The key indices of the domestic bourses move up one per cent on Friday as buying support in the market heavyweights such as RIL, Axis Bank, Maruti, Infosys and HDFC Bank, supported the BSE Sensex and NSE Nifty. Further, positive global cues boosted investor sentiment. 

The S&P BSE Sensex added 337.35 points or 0.92 per cent to close at 36,981.77. On NSE, the broad-based index Nifty-50 closed at 10,946.20, up 98.30 points or 0.91 per cent. For the week, the BSE Sensex lost 0.94 per cent while NSE’s Nifty50 index dropped 0.69 per cent.

With a gain of four per cent, Maruti was a star performer on the bourses. YES Bank fell two per cent and remained the top loser. Volatility index India VIX slipped nearly 7 per cent to end at 16.08 levels.

The S&P BSE MidCap index climbed 82 points or 0.61 per cent, to 13,365 levels, while the S&P BSE SmallCap index surged 99 points or 0.79 per cent to end at 12,595.

On the sectoral front, auto stocks rallied the most, followed by metal and media stocks. The Nifty Auto index ended at 7,102 levels, up over 2.61 per cent.

The undercurrent market mood is positive as 1,583 advanced out of 2,658 stocks traded on the BSE. As many as 921 declined, while 154 scrips remained unchanged.

The markets opened higher on positive global cues. The traders across the globe are expecting a positive outcome from the talks between the US and China. The trade dialogue is scheduled to resume next month.

Dasari Sreenivasa Rao

Dasari Sreenivasa Rao is a freelance journalist with 26 years of mainstream media experience in Hyderabad and Dubai. He was Business Editor at The Pioneer and Spl Correspondent at Deccan Chronicle and The Hans India. Earlier, he worked for prestigious media brands including ToI, Indian Express (Bombay) and SPG Media and Business Standard in Hyderabad. NSE-qualified Dasari specializes in derivatives trading. He was visiting faculty at IGNOU and handled two batches of journalism students. Dasari is passionate about business journalism and always suggests all to practice rigorous meditation that ensures peace of mind and helps in moving up the value chain.

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