Benchmark indices closed with moderate gains on Friday in line with their Asian stocks, led by gains in metal, auto and IT stocks.
The BSE benchmark Sensex closed t 38,127, up 246 points higher, while the NSE Nifty50 also gained 70.50 points, to settle at 11,305.
Market sentiment was positive since investors remained cheerful for the second quarter financial results for IT companies. For the week, both the Sensex & Nifty ended over 1 percent higher.
On Major sectors, the Nifty bank index settled 0.10% higher at 28042.50, up by 29-pts. Thus far this year, the Nifty Bank has recorded a gain of 3.25%
The IT index closed 1.51% higher to settle at 15,321.90, led by infosys, NIIT Tech and Hexaware Technologies, by 3 to 4% in range.
The Nifty Fast Moving consumer goods (FMCG) index settled higher, up 0.89% at 30,416, with major gains in Procter & Gamble Hygiene and Health Care, Tata Global Beverages and Hindustan Unilever.
Auto Nifty index closed higher, up 0.51% to settle at 7,397, driven by TataMotors and TVS-Motors, among others.
The Nifty metal index closed higher by 2.35% to settle at 2,337 with major gains in Vedanta, Jindal Steel, Hindalco and Tata Steel.Get best stock Tips from the experts.
The IT software major Infosys share price rose 4.19%. The company reported its net profit rose 5.8% to Rs.4,019-Cr on a 3.8 percent increase in operational revenue to Rs.22,629-Cr in Q2 Sept 2019, Year-on-year. For Free stock tips visit our website.
On Overseas watch, Asian shares edged higher on Friday as high-l evel U.S – China negotiations reportedly progressed. Meanwhile, Chinese President Xi Jinping arrived at Chennai for a 2-day informal summit with Prime Minister Modi. Prime Minister conveyed his wish that the summit will more strengthen the association between India&China.