Sensex ends 86 points upward, Nifty also jumps 27 points to 11,871

New Delhi, News Nation Bureau | Updated : 07 June 2019, 09:59 PM
Sensex ends 86 points upward, Nifty also jumps 27 points to 11,871
Sensex ends 86 points upward, Nifty also jumps 27 points to 11,871

After swinging over 400 points intra-day, the BSE Sensex settled 86.18 points, or 0.22 per cent, higher at 39,615.90. Similarly, the broader NSE Nifty rose 26.90 points, or 0.23 per cent, to 11,870.65.

During the week, the Sensex fell 98.30 points and the broader Nifty lost 52.15 points.

Top gainers in the Sensex pack on Friday included IndusInd Bank, Bajaj Finance, M&M, SBI, ICICI Bank and Vedanta, rising up to 1.90 per cent.

On the other hand, Yes Bank, PowerGrid, Sun Pharma, Coal India, Bajaj Auto, ONGC and RIL were among the top losers, dropping up to 2.37 per cent.

“On-going funding challenges faced by NBFCs prompted investors to focus on to select banking stocks while weak rupee added some impetus to IT stocks.

“The global central banks are moving to a rate cut cycle to combat weaker growth which supported Asian and European markets but trade war concerns continue to limit gains. Investors to remain focused on fresh triggers in the upcoming union budget and US job data to get cues on further direction,” said Vinod Nair, Head of Research, Geojit Financial Services.

On Thursday, both benchmark indices posted their biggest one-day drop this year after the RBI delivered a rate cut on expected lines but failed to allay investor concerns regarding the non-banking financial company (NBFC) sector.

In the previous session, the 30-share BSE Sensex cracked 553.82 points, or 1.38 per cent, to settle at 39,529.72. The broader NSE Nifty plunged 177.90 points, or 1.48 per cent, to end at 11,843.75.

Broader market indices the BSE MidCap and SmallCap ended in the red, under-performing the benchmarks.

Foreign institutional investors sold shares worth a net Rs 1,448.99 crore on Thursday, and domestic institutional investors offloaded equities to the tune of Rs 650.84 crore, provisional data available with stock exchanges showed.

Meanwhile, the Indian rupee depreciated 20 paise to 69.48 against the US dollar.

On the global front, investors wagered on rate cuts by central banks to shore up growth amid the US-China trade tussle. Elsewhere in Asia, bourses in China, Japan and Korea ended on a mixed note, while Europe was trading in the green in opening deals.

Brent crude futures, the global oil benchmark, rose 1.20 per cent to USD 62.41 per barrel.

(With inputs from PTI) 

First Published: Friday, June 07, 2019 03:41 PM
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