The benchmark indices Sensex and Nifty fell after two sessions of fall as investors snapped up energy, IT and pharma stocks.
After fighting several bouts of volatility during the session, the BSE gauge Sensex rose 35.75 points, or 0.07%, to close at 50,441.07. Intraday, the index rose 667 points, but surpassed most of its gains tracking weakness in global markets.
NSE Nifty gained 18.10 points or 0.12% to close at 14,956.20. On the SENSEX chart, L&T, ONGC, HCL Tech, NTPC, Axis Bank and Infosys benefited. On the other hand, Bajaj Finance, IndusInd Bank, UltraTech Cement, Bajaj Auto and HDFC emerged as the twin top laggards.
In other Asian markets, equity suffered losses amid continued volatility in the wake of concerns over rising bond yields. However, Asian stocks had started the session at a higher level, prompting the US Senate to pass a $ 1.9 trillion stimulus bill for the COVID-19 relief package.
Investor nerves also calmed after the US Department of Labor reported stronger-than-expected jobs data for February. Global crude oil prices climbed after Saudi Arabia reported a drone attack on its oil facilities.
As per exchange data, foreign investors on Friday offloaded equity of ₹ 2,014.16 crore in Indian capital markets on a net basis.
On the foreign exchange market front, the rupee closed 23 paise down at 73.25 against the US dollar on 8 March.
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