Mumbai Feb 23 (IANS) The key Indian equity indices on Friday closed at almost a week s high levels as positive cues from the Asian markets along with a strong rupee and value buying uplifted investors sentiments.
According to market observers easing worries of a rate-hike by the US Federal Reserve in the near term coupled with healthy buying in almost all the sectors -- led by metals banking and healthcare stocks -- added to the upward trajectory of the key indices.
The wider Nifty50 of the National Stock Exchange (NSE) edged higher by 108.35 points or 1.04 per cent to close at 10 491.05 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE settled near its day s high of 34 167.60 points to close at 34 142.15 points -- up 322.65 points or 0.95 per cent from its previous close.
The BSE market breadth was bullish with 1 899 advances and 831 declines.
The broader market indices outperformed the Sensex with the S&P BSE mid-cap index closing higher by 1.47 per cent and the small-cap index by 1.54 per cent.
"Markets surged higher on Friday as the Nifty closed just below the 10 500 levels. The gains came on the back of positive Asian equity markets " Deepak Jasani Head - Retail Research HDFC Securities told IANS.
"It was also the first trading session of the derivatives March near-month series. The Sensex and the Nifty settled at over one-week high on broad-based buying " Jasani added.
On the currency front the Indian rupee strengthened by 31 paise to close at 64.73 against the US dollar from its previous close at 65.04.
In terms of investments provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 486.32 crore while domestic institutional investors purchased stocks worth Rs 1 514.03 crore.
Vinod Nair Head of Research Geojit Financial Services said: "Market rebounded amid value buying on beaten down sectors like PSU banks metal and pharma."
"Additionally ease in fears on US Fed rate hike trajectory led the 10-year yield to fall comforting investors sentiment " Nair added.
All the 19 sub-indices of the BSE closed with gains led by metals banking and healthcare sectors.
The S&P BSE metal index rose by 469.96 points banking index by 356.63 points and healthcare index by 266.85 points.
Major Sensex gainers on Friday were: Tata Steel up 6.26 per cent at Rs 677.80; Sun Pharma up 5.17 per cent at Rs 570.20; Yes Bank up 2.28 per cent at Rs 323.60; Dr Reddy s Lab up 2.26 per cent at Rs 2 169.25; and Bharti Airtel up 2.26 per cent at Rs 425.45.
The Sensex losers were: Asian Paints down 1.29 per cent at Rs 1 101.90; Coal India down 0.48 per cent at Rs 310.45; Infosys down 0.42 per cent at Rs 1 155.65; Mahindra and Mahindra down 0.22 per cent at Rs 719.30; and Hindustan Unilever down 0.16 per cent at Rs 1 323.
--IANS
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