In a highly volatile trade on Friday the stock indices closed in the positive territory, taking cues from global markets, while market participants awaiting for the state election results.
Meanwhile the rupee rebounded against the dollar and closed at 61.44 a dollar compared to the previous close of 61.84 on Thursday.
The Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) closed at 26108.53 with a gain of 109.19 points. It touched a low of 25910.77 and a high of 26248.54.
Except information technology stocks, which tumbled by 4 per cent on BSE, and technology stocks, which lost 2.67 per cent, all other sectoral indices ended in the positive territory led banks, which gained at 2.46 per cent.
On the National Stock Exchange (NSE), the 50-share Nifty was up by 31.50 points or 0.41 per cent to close at 7779.70.
“The decline continues in equity markets for the fourth successive week and the benchmarks lost nearly one percent amid volatility,” said Jayant Manglik, President-retail distribution, Religare Securities Limited, while talking on the market performance for the week. Among the major issues, global growth concerns and mixed set of economic data kept the participants in cautious mood.
In the coming holiday shortened week, said Mr. Manglik, participants would be eyeing the Consumer Price Index data, which is scheduled to be released on October 20. Besides, they would be keeping a close watch on the results of some big names including Cairn India, HDFC Bank, Punjab National Bank, Kotak Bank, Wipro and Dr. Reddy Lab among others.
