Indian Equity closed higher on Friday - ICICI Bank : Treasury Research

Indian equities closed higher today amidst largely positive cues from Asian peers. FMCG stocks rallied, led by gains in Hindustan Unilever Ltd. (HUL) after the Anglo-Dutch consumer goods giant Unilever PLC increased its stake in HUL to 67.28 %. Sugar stocks also gained today amidst speculation that the Government is likely to increase import duty on the commodity. However, weakness in the Rupee and some profit booking in the later part of trade capped gains in equities. The Sensex ended higher at 19,495.82 (+0.44%) while the Nifty closed at 5867.90 (+0.53%).

The BSE Bankex ended higher at 13,038.14 (+0.24%). SBI ended lower at INR 1894.70 (-0.35%) while ICICI Bank ended lower at INR 1051.15 (-1.21%).

Most Asian stocks closed higher today as sentiment remained positive following the accommodative stance signalled by the ECB and BoE in their policy meetings yesterday. Nikkei closed higher by 2.08%, aided by gains in exporters' stocks on the back of a weaker Yen. Hang Seng ended higher by 1.89%, led by commodity stocks and Australia's ASX ended up by 0.98% aided by gains in technology stocks. Shanghai Composite edged higher by 0.05%. Kospi however ended lower by 0.32%, dragged by technology stocks.

Source : Equity Bulls

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