Mumbai Aug 3 (IANS) The key Indian equity indices -- S&P BSE Sensex and NSE Nifty50 -- rose over 1 per cent each on Friday supported by a healthy macro economic data and prediction of recovery in monsoon rains.
Market observers cited broadly positive global indices coupled with lower crude oil prices as other factors which buoyed investor sentiments.
On Friday the Nikkei India Services Business Activity Index showed an exponential rise in the rate of output growth during July.
Index-wise the wider Nifty50 on the National Stock Exchange (NSE) closed at 11 360.80 points higher by 116.10 points or 1.03 per cent from the previous close of 11 244.70 points.
The benchmark BSE Sensex which had opened at 37 327.16 points closed at 37 556.16 points 391 points or 1.05 per cent higher from the previous close of 37 165.16 points.

On an intra-day basis it touched a high of 37 582.27 points and a low of 37 319.61 points. The BSE market breadth was bullish with 1 768 advances and 937 declines.
"Stock markets in India traded the day on a positive note as upbeat macro-economic developments gave a fillip to investor sentiment " said Abhijeet Dey Senior Fund Manager for Equities BNP Paribas Mutual Fund.
According to Deepak Jasani Head of retail research at HDFC securities sentiments were also boosted after the weather department s forecast of recovery in monsoon in August and September.
On the currency front the rupee closed at 68.61 strengthened by 10 paise from the previous close of 68.71 per dollar.
Investment-wise provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 5.87 crore and the domestic institutional investors bought stocks worth Rs 87.08 crore.
Sector-wise all the indices traded on a positive note on Friday with the S&P BSE banking gaining the most by 502.75 points. It was followed the consumer durables index which rose 320.27 points and the metal index which ended 188.60 points higher from its previous close.
The major gainers on the Sensex were Axis Bank up 5.17 per cent at Rs 574.35; Vedanta up 3.60 per cent at Rs 221.85; Yes Bank up 2.96 per cent at Rs 372.45; ICICI Bank up 2.33 per cent at Rs 304.80; Kotak Mahindra Bank up 2.20 per cent from Rs 1 309.20 per share.
The major losers were Tata Motors down 0.84 per cent at Rs 258.75; Tata Motors (DVR) down 0.80 per cent at Rs 142.65; Hero MotoCorp up 0.63 per cent at Rs 3 246.10; Asian Paints down 0.50 per cent at Rs 1 411.35; and HDFC Bank down 0.39 per cent at Rs 2 121 per share.

--IANS rrb-rv/mr