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

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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% higher at 43,443. The broader NSE Nifty rose 29.15 points or 0.23% to 12,719.95.

Bajaj Finserv was the top gainer in the Sensex pack, rising around 4%, 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 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% lower at USD 43.23 per barrel.


Disclaimer: This post has not been edited by our staff and is published from a syndicated feed. The Original Source of this post can be found at Source link

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