Sensex ends higher ahead of election results, US data

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Markets ended the higher ahead of crucial election results due on Sunday and ahead of the US non farm payroll data. Both of the key data are likely to drive market momentum next week.

The Sensex ended the day higher by 18 points, while the Nifty gained 81 points (provisional) in trade. PSU banking stocks were once again in the limelight with most of the stocks from the space ending the day with gains.

Coal India was the top Nifty gainer in trade after reports that there would be a huge dividend payout at the company. Other Nifty stocks that saw large scale gains were NTPC, Power Grid and Tata Power. HeroMotor Corp rallied after a leading brokerage house upgraded the stock.

HDFC twins did not have a good day of trade with HDFC Bank and HDFC ending the day with losses of more then 1 per cent. Other prominent Nifty losers were IDFC, Infosys, Hindalco, Hindustan Unilever and Jaiprakash Associates.

Jubilant Lifesciences which had lost 10 per cent on Thursday dropped another 8 per cent in trade following a US FDA warning letter.

Pharma stocks saw fresh buying support in trade with gainers including Cipla, Lupin Labs and Sun Pharma.

Mid cap stocks also ended the day flat in line with the broader market, though Voltas continued to rally in trade.

Meanwhile, most of the markets across the globe were trading lower on fears over the US non farm payrolls data due later today.

A strong reading is likely to worry markets as it would once again raise fears of QE3 tapering by the Fed. Read more about QE3 here.

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