Domestic benchmark Sensex rallied over 360 points Friday, snapping their three-day losing streak at over a high of 35673.25 as investors widened their portfolios ahead of the exit poll results outcome amid easing crude oil prices and firm rupee. Also, positive cues from other Asian markets and a high opening in European shares buoyed investor sentiments.
Crude oil prices was traded lower ahead of the crucial OPEC meet outcome, which is expected to come later in the day. Brent crude oil futures fell below $60 per barrel, trading at $59.53 per barrel, down 53 cents, or 0.9 per cent from their last close. US West Texas Intermediate (WTI) crude futures were at $51.05 per barrel, down 44 cents, or 0.9 per cent.
Among key stocks, the shares of HCL Technologies fell 5 per cent to Rs 962 on BSE after the company said it will acquire select IBM software products for $1.8 billion in an all-cash deal.
Shares of Power Finance Corporation (PFC) fell as much as 4.76 per cent on the BSE in intra-day session after the Cabinet Committee on Economic Affairs (CCEA) Thursday gave an in-principle approval to the strategic sale of the Centre’s 52.63 per cent holding in REC to PFC, along with transfer of management control. However, the stock pared losses later in the day to end flat at Rs 89.80, down just 0.5 per cent.
The 30-share benchmark index closed at 35673.25 up by 361.12 points or by 1.02 per cent, while the NSE Nifty was at 10693.7 up by 92.55 points or by 0.87 per cent. During the day’s trade, Sensex touched intraday high of 35730.05 and intraday low of 35378.27 The NSE Nifty touched intraday high of 10704.55 and intraday low of 10599.35.
The top gainers of the BSE Sensex pack were Kotak Mahindra Bank Ltd. (Rs. 1282.25,+8.53%), Adani Ports & Special Economic Zone Ltd. (Rs. 373.75,+2.71%), Bajaj Auto Ltd. (Rs. 2779.75,+2.23%), Infosys Ltd. (Rs. 681.05,+1.92%), Asian Paints Ltd. (Rs. 1317.00,+1.69%), among others.
The top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 411.30,-2.09%), Coal India Ltd. (Rs. 236.80,-1.62%), YES Bank Ltd. (Rs. 166.10,-1.31%), NTPC Ltd. (Rs. 137.85,-0.93%), Tata Steel Ltd. (Rs. 507.90,-0.62%), among others.
Among the sectors, Bankex index was at 29660.88 up by 485.24 points or by 1.66%. Kotak Mahindra Bank Ltd. (Rs. 1282.25,+8.53%), ICICI Bank Ltd. (Rs. 351.95,+1.27%), Bank of Baroda (Rs. 106.30,+1.14%), Axis Bank Ltd. (Rs. 603.85,+0.58%), HDFC Bank Ltd. (Rs. 2105.65,+0.55%),.
On the flip side, Oil&Gas index was at 12968.02 down by -85.32 points or by -0.65%. GAIL (India) Ltd. (Rs. 334.70,-4.06%), Indraprastha Gas Ltd. (Rs. 248.65,-1.76%), Castrol India Ltd. (Rs. 145.15,-1.56%), Oil India Ltd. (Rs. 178.15,-1.38%), Indian Oil Corporation Ltd. (Rs. 129.55,-0.61%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2898 , shares advanced were 1172 while 1554 shares declined and 172 were unchanged.