A bounceback in IT stocks after their recent slide, and a report of Blackstone investment in Cipla boosting pharma stocks helped 30-share BSE benchmark Sensex gain 480 points or 0.74% to settle at 65,721. The broader NSE Nifty surged 135 points or 0.70% to end at 19,517.
From the Sensex pack, IndusInd Bank, Tech Mahindra, Wipro and Airtel were the top gainers, rising 2-3%. HCL Tech, Axis Bank, HDFC Bank, and Reliance Industries also closed with gains. On the flip side, SBI closed 3% lower post Q1 results. NTPC, Maruti, Bajaj Finserv, and Power Grid also ended lower.
Despite Friday’s rise, the benchmarks extended losses for the second week in a row, losing 0.66% each as weak China data and feeble global cues dampened the mood.
More to come….