Markets closed marginally higher on Friday after a volatile session as investors largely stuck to index heavyweights despite positive global cues.
The BSE Sensex settled 12.53 points, or 0.03%, higher at 36,386.61. The broader NSE Nifty inched up 1.75 points, or 0.02%, to 10,906.95.
During the week, the 30-share Sensex gained 378.77 points, or 1% and the Nifty rose 112 points, or 1.02%.
Reliance Industries was the biggest gainer on Sensex in Friday’s session, spurting 4.43%, after the company became the first Indian private sector company to report a quarterly profit of more than ₹10,000 crore following record earnings from petrochemical, retail and telecom businesses.
Other gainers included Kotak Bank, HCL Tech, ONGC, Asian Paints, Vedanta, HDFC Bank, Bajaj Finance, Maruti and TCS, gaining up to 1.41%.
Sun Pharma was the top loser, cracking 8.58%, on reports of fresh allegations by a whistleblower against the company.
Bharti Airtel, L&T, Axis Bank, Yes Bank, ITC, Tata Motors and PowerGrid also fell up to 6.42%.
“Domestic indices failed to absorb the rebound in global market as plunge in pharma stocks and weak rupee dragged the sentiment,” said Vinod Nair, Head of Research, Geojit Financial Services.
“Global headwinds continue to dictate a range-bound movement in the market while any green shoots in quarter earnings provide opportunity to accumulate,” he added.
On a net basis, foreign portfolio investors (FPIs) purchased shares worth ₹842.13 crore Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of ₹727.46 crore, provisional data available with BSE showed.
According to analysts, global trade tensions and risk of recession will cast a cloud over the sentiment, while lack of major triggers in the domestic market could see range-bound movement in the near term.
The rupee, meanwhile, depreciated 10 paise against the U.S. dollar to 71.13 intra-day.
The benchmark Brent crude futures rose 0.98% to $61.78 per barrel.
Elsewhere in Asia, Shanghai Composite Index jumped 1.42%, Hong Kong’s Hang Seng rose 1.25%, Japan’s Nikkei gained 1.29%, and Korea’s Kospi climbed 0.82% higher.
In Europe, London’s FTSE rallied 1.03%, Frankfurt’s DAX was up 0.97% and Paris CAC 40 surged 1.29% in early deals.
