Stocks rise as energy, infra, financials shine

RIL, ONGC among top gainers

Mumbai: A view of the BSE building in Mumbai on Tuesday. The Sensex crossed 27,000 mark on Tuesday. PTI Photo by Mitesh Bhuvad (PTI9_2_2014_000158A)

Energy, infrastructure and financial sector stocks helped benchmark indices rise on Friday with the S&P BSE Sensex and Nifty gaining 1.5% each.

The Sensex added 548.48 points, or 1.5%, to close at 37,020.14. ONGC led gains, climbing 5.5%, while Titan, RIL and HDFC Bank all rose about 3.5% and M&M gained 3.2%.

The Nifty advanced 161.75 points, or 1.51%, to 10,901.70. The top gainers included BPCL, up 12.4%, while Bharti Infratel and GAIL rose more than 4%.

S. Ranganathan, head of research, LKP Securities, said PSU stocks buoyed sentiment as privatisation talks gained ground.

“Reliance and select financial sector stocks lent good support to the bulls on a day which saw hectic activity in the broader market with several stocks on the rural theme too participating,” he said.

Analysts said the ongoing earnings season and global cues would dictate the market trend going forward. They said Indian stocks are seeing earnings-specific moves while the possibility of another lockdown has not dampened the sentiment.