Indian Markets end off their day highs on Friday - LuvKush Finserve

Markets gained for the second straight day but ended off their day highs as investors turned cautious and booked profits at higher levels on concerns that the US Fed may tone down its monetary stimulus measures if the jobs data is better-than-expected. Resumption of buying by foreign institutional investors also helped improve sentiment. The Sensex ended up 85 points at 19,496 after hitting an intra-day high of 19,640 and the Nifty gained 31 points to close at 5,868 after topping the 5,900 mark in intra-day trades.

The BSE Oil and Gas index was the top sectoral gainer on the BSE up 1.5% followed by FMCG, Metal, Capital Goods and Bankex indices. Oil and Gas shares rebounded from their lows after profit taking was seen in the previous sessions. Reliance Ind ended up 2.1% while ONGC gained 2.2%.

FMCG shares witnessed buying after Hindustan Unilever parent's open offer received good response. HUL ended up 1.4% after surging in early trades. Earlier, the stock had rallied over 4% in opening trades to touch an all-time high of Rs 631.95 after its parent company Unilever said it has acquired 14.8% stake against target of 22.5% in Indian unit. ITC ended up 1%. In the broader market, the BSE Mid-cap ended up 0.2% while the Small-cap index gained 0.3%.

Source : Equity Bulls

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