In a volatile trade, stocks gained and rupee rebounded from low levels against the dollar following the rating upgrade by international rating agency, Standard & Poor’s (S&P) on India’s sovereign credit outlook from ‘negative’ to ‘stable’.
The rupee closed at 61.14 a dollar compared to its previous close of 61.34 on Thursday. Earlier it touched a low of 61.62 intra-day.
The Bombay Stock Exchange (Sensex) 30-share Sensitive Index (Sensex) closed at 26626.32 with a gain of 157.96 points or 0.60 per cent.
Metal stocks gained the most among sectoral indices with 2.49 per cent followed by realty 2.27 per cent, banks 1.91 per cent, capital goods 1.56 per cent, healthcare 1.41 per cent, oil & gas 1.25 per cent and power 1.22 per cent.
However, technology stocks at 0.55 per cent, FMCG at 0.52 per cent and consumer durables at 0.16 per cent ended in the negative territory. On the National Stock Exchange (NSE), the 50-share Nifty closed at 7968.85 with a gain of 57 points.
“Markets remained volatile on Friday but bounced back at the end of trading session as S&P upgraded the outlook on the India’s credit,” said Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities.
