Mumbai May 11 (IANS) Firm global markets along with healthy buying in banking metal and capital goods stocks lifted the key Indian equity indices on Friday.
According to market analysts better-than-expected quarterly earnings also supported the indices.
The wider Nifty50 of the National Stock Exchange closed at 10 806.50 points up 89.95 points or 0.84 per cent from the previous close.
Similarly the barometer 30-scrip Sensitive Index (Sensex) of the BSE ended in the green. It had opened at 35 287.99 points and closed at 35 535.79 points -- up 289.52 points or 0.82 per cent.
The Sensex touched a high of 35 596.15 and a low of 35 262.06 points during the intra-day trade.
However the BSE market breadth was bearish with 1 542 declines and 1 123 advances.
"Key benchmark indices opened higher and firmed up as the day progressed to finally close with gains of over 0.50 per cent " said Abhijeet Dey Senior Fund Manager Equities BNP Paribas Mutual Fund.
He said: "Globally the sentiment turned risk-on as softer US inflation alleviated worries of a faster rate hike in the country and geo-political tensions ebbed with both the US and North Korea looking to reduce tensions in the region."
According to Deepak Jasani Head of Retail Research HDFC Securities positive Asian markets and overnight gains on Wall Street helped the Indian equities.
"Encouraging earnings announcements by Indian corporates also helped improve sentiments " Jasani told IANS.
On the currency front the Indian rupee weakened by 2 paise to 67.33 against the US dollar from its previous close at 67.31.
Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 325.44 crore while the domestic institutional investors purchased stocks worth Rs 1 163.35 crore.
Sector-wise the S&P BSE banking index surged by 331.14 points metal stocks rose by 216.26 points and the capital goods stocks edged up by 190.73 points.
On the other hand the S&P BSE consumer durables index fell by 265.61 points the healthcare stocks dropped by 104.55 points and the telecom stocks ended 53.91 points lower.
The major gainers on the Sensex were Asian Paints up 6.17 per cent at Rs 1 289.60; Tata Steel up 2.17 per cent at Rs 606.65; Larsen and Toubro up 1.69 per cent at Rs 1 387.05; Yes Bank up 1.52 per cent at Rs 349.95; and HDFC up 1.50 per cent at Rs 1 924.35 per share.
The top losers were Bharti Airtel down 6.44 per cent at Rs 385.70; Sun Pharma down 5.05 per cent at Rs 471.85; Tata Motors (DVR) down 1.69 per cent at Rs 194.90; Tata Motors down 0.78 per cent at Rs 330.75; and Hero MotoCorp down 0.74 per cent at Rs 3 616.15 per share.
--IANS
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