Sensex closes up 39 points at 20286 - LuvKush Finserve

Markets bounced back in late afternoon session after a range-bound day of trades this Friday on back of buying witnessed in rate-sensitive sectors such as banks, real-esate among others. The Sensex ended at 20,286 - up 39 points. Nifty ended up 17 points at 6,187.

Risk appetite improved after S&P maintained their rating on India without downgrading it which was feared by market participants due to country's burgeoning current account defecit.

From the sectoral indices, BSE power index surged 3% at 1,789. The realty index gained 2% on expectations that the RBI may further cut policy rates. Capital goods staged a smart rebound and ended up 3% at 10,423. However, weakness remained in the consumer durables, healthcare and metal indices.

IT stocks rose on a weak rupee. Infosys added 0.8% at Rs 2,351. TCS added 1%. BHEL advanced 4%, followed by NTPC, ICICI Bank and Larsen & Toubro.

Cipla was up 0.5% at Rs 425. Shareholders of Cipla Medpro South Africa have approved Cipla's cash offer to acquire 100% of Cipla Medpro through itself or through its nominated subsidiary. Meanwhile, Bharti Airtel shed 2% at Rs 316. Sterlite dropped 1.3%. Market heavyweight, Reliance slipped 0.7%, followed by Hero MotoCorp and Sun Pharma.

Source : Equity Bulls

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