Nifty gains 11.75 points to close at 5667.65 - LuvKush Finserve

Indian equity markets ended a volatile session on a positive note on Friday as investors preferred to buy technology stocks amid optimism that the weak rupee would improve profitability going ahead. The Sensex rose 54.95 points to close at 18,774.24 and the Nifty gained 11.75 points at 5,667.65 levels. The benchmark indices fell most on Thursday in nearly 21-months.

The key sectoral losers included banks, real-estate, metals while IT, auto and power indices gained on the BSE.

Bank stocks declined on worries that the rising rupee would force the Reserve Bank of India to defer reduction in key policy rate going forward. In the financial segment, ICICI Bank was down 0.2% while SBI fell 0.3%.

Among the mining stocks, Sterlite and Hindalco Industries were both down between 1-4% while Jindal Steel shed 8% today. The gainers included counters such as TCS rising 1.3%, Infosys gained 2.2%, ONGC was up 2.6% on the BSE. The broader markets ended lower with mid-caps and small-caps falling 0.3-1 per cent on the BSE.

Source : Equity Bulls

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