Benchmark indices ended the day higher as global markets staged a rally, following gains in the Chinese markets.

On Thursday markets across the world fell sharply after the CSI 300 in China fell a huge 7 per cent. Calm prevailed on Friday, with most of the markets gaining ground, though there was a mood of caution across markets.

Tata Motors which lost a huge 5 per cent in trade on Friday gained 2 per cent, after Chinese markets recovered.

Banking stocks, however, continued to remain subdued with ICICI Bank, State Bank of India and Punjab National Bank ending the day almost flat in trade.

Oil marketing companies were also in the limelight on a drop in crude prices. HPCL and BPCL both were among the gainers. ONGC, which had fallen sharply following a drop in crude prices managed to gain ground.

Cipla, Bajaj Auto and Coal India were among the few stocks from the Nifty that fell in trade. IVRCL saw a huge spike of 7 per cent after the company won a huge order.

Meanwhile, markets across Europe were trading with substantial gains, while most of Asia ended the day higher.

GoodReturns.in