Sensex ends 86 pts higher; Nifty tops 12,700-mark

The 30-share BSE Sensex ended 85.81 points or 0.20 per cent higher at 43,443, while Nifty rose 29.15 points or 0.23 per cent to 12,719.95.
Sensex ends 86 pts higher; Nifty tops 12,700-mark
Stock MarketImage by Gerd Altmann

NEW DELHI

The Sensex rose 86 points while the Nifty topped the 12,700 level on Friday, tracking recovery in financial stocks amid mixed cues from global markets.

The 30-share BSE Sensex ended 85.81 points or 0.20 per cent higher at 43,443. The broader NSE Nifty rose 29.15 points or 0.23 per cent to 12,719.95.

Bajaj Finserv was the top gainer in the Sensex pack, rising around 4 per cent, followed by Tata Steel, ICICI Bank, Axis Bank, Bajaj Finance and SBI.

On the other hand, L&T, HDFC twins, Tech Mahindra, Bharti Airtel, M&M and TCS were among the laggards.

"Domestic equities recovered from early losses as select financial stocks witnessed recovery," said Arjun Yash Mahajan, Head Institutional Business at Reliance Securities.

Further, barring FMCG, all other sectoral indices traded in green. Metals and pharma witnessed decent traction. While concerns over resurgence of COVID-19 cases in Europe and US dampened investors' sentiments, clarity on vaccine, strong Q2 earnings and additional fiscal stimulus under Aatmanirbhar Bharat 3.0 continued to support domestic equities, he added.

On the global front, investors turned cautious due to continued rise in COVID-19 cases and the possibility of further restrictions on businesses.

Bourses in Shanghai, Hong Kong and Tokyo ended in the red, while Seoul was positive.

Stock exchanges in Europe were largely trading with gains in early deals.

International oil benchmark Brent crude was trading 0.69 per cent lower at USD 43.23 per barrel.

Meanwhile, the rupee settled on a flat note at 74.62 against the US dollar on Friday as importers and banks' demand for the greenback continued to exert pressure on the Indian currency. (PTI)

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