Mumbai : After falling for two consecutive days, domestic stocks recovered on Friday as political uncertainty subsided in USA and stocks gained on optimism of foreign funds inflow into India. Sensex jumped 689 points to close at a new high of 48,783. Nifty settled at 13,347.25, up 1.48 points.
Maruti Suzuki and Tech Mahindra climbed 5-6 per cent. Infosys added 4 per cent while Bharti Airtel and Ultra Tech Cement went up 3.5 per cent each. TCS rose 3 per cent higher ahead of quarter three earnings.
On the other hand, IndusInd Bank, SBI, ITC and HDFC fell upto 1.4 per cent.
In the broader market, RVNL jumped 15 per cent to Rs 33.35 while J & K Bank hit its 10 per cent upper circuit limit at Rs 26.55.
Meanwhile, the Union Government and the farmers’ unions are holding eighth round of talks with no definite solution in sight. IT department searched offices of Flipkart unit, Swiggy. Vodafone Idea moved Supreme Court over “errors in DOT’s AGR calculation.
On Friday, stock investors got richer by Rs 2.46 lakh crores as Sensex reached a new high to 48782.51.
The focus of Indian markets has now shifted to third quarter earnings. The Q3 figures released on Friday and Saturday would determine the trend of the market on Monday, experts said.
The Market breadth was in favor of gainers as 1763 stocks ended in the green while 1350 companies settled with cuts. A total of 481 securities hit the 52-week high, mostly from micr0-cap space.
