Indian benchmark indices ended higher for the sixth straight session on Friday led by buying select blue-chip counters such as HDFC Bank, Reliance Industries, TCS and Larsen & Turbo. However, global peers tumbled after China's GDP growth slipped to a 27-year low of 6 per cent.
Overseas, Asian stocks stumbled on Friday, erasing earlier gains after China posted its weakest growth in nearly three decades, countering a global lift in sentiment on the UK and European Union striking a long-awaited Brexit deal.
Whereas, European stocks edged lower in cautious trade on Friday as weak GDP data from China rekindled growth worries and doubts swirled both about the merits of Boris Johnson's Brexit deal and about the likelihood of the deal getting through the British parliament. The pan European Stoxx 600 was marginally lower at 393.04 after declining 0.1 percent in the previous session.
Meanwhile, oil prices slipped as China's slowest GDP growth in almost three decades stoked demand fears.
On the corporate front, shares of Lupin gained 2 percent on October 18 after company’s Nagpur facility received Establishment Inspection Report from the US health regulator. The stock closed at Rs 740.30 on the BSE.
The 30-share benchmark index closed trading at 39298.38 up by 246.32 points or by 0.63 per cent, while the NSE Nifty was at 11661.85 up by 75.5 points or by 0.65 per cent.
During the positive day’s trade, Sensex touched intraday high of 39361.06 and intraday low of 38963.6 The NSE Nifty touched intraday high of 11684.7 and intraday low of 11553.15.
The top gainers of the BSE Sensex pack were YES Bank Ltd. (Rs. 51.40,+8.44%), Maruti Suzuki India Ltd. (Rs. 7318.15,+2.74%), Power Grid Corporation of India Ltd. (Rs. 202.35,+2.35%), NTPC Ltd. (Rs. 121.00,+2.02%), Larsen & Toubro Ltd. (Rs. 1448.05,+1.67%), among others.
The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 136.70,-1.05%), Tata Motors Ltd. (Rs. 61.40,-0.89%), Bajaj Auto Ltd. (Rs. 3088.80,-0.69%), Bharti Airtel Ltd. (Rs. 383.25,-0.65%), ICICI Bank Ltd. (Rs. 437.75,-0.64%), among others.
Among sectors, BSE Power index was at 1983.23 up by 50.77 points or by 2.63%. Bharat Heavy Electricals Ltd. (Rs. 54.45,+22.22%), Reliance Infrastructure Ltd. (Rs. 21.85,+9.80%), GMR Infrastructure Ltd. (Rs. 19.05,+8.55%), Adani Power Ltd. (Rs. 64.10,+2.97%), JSW Energy Ltd. (Rs. 68.10,+2.71%),.
On the flip side, Bankex index was at 32900.62 down by 121.26 points or by 0.37%. City Union Bank Ltd. (Rs. 213.85,-1.38%), ICICI Bank Ltd. (Rs. 437.75,-0.64%), Federal Bank Ltd. (Rs. 84.00,-0.47%), Axis Bank Ltd. (Rs. 709.20,-0.19%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2937 , shares advanced were 1716 while 1021 shares declined and 200 were unchanged.