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Nifty Ends Higher As European Markets Surge

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Benchmark indices, which surged in early trade gave-up much of the gains, but still ended higher as European markets on Friday saw a stellar rally in trade.

The European Central Bank (ECB) on Thursday lowered its deposit rate further to -0.4 percent, which initially led to a rally in the European markets, but fizzled out later.

Nifty Ends Higher As European Markets Surge
However, on Friday European markets surges, while Asian markets mostly ended the day higher, with the Shanghai Composite seeing a late recovery in trade.
 

The Sensex ended the day with gains of 94 points, while the Nifty gained 24 points in trade. Markets ended the week almost little changed over last week's levels.

Leading the set of gainers from the Nifty and the Sensex were stocks like Lupin, ITC and TCS. Reliance Industries was also among the gainers in trade.

However, stocks like Coal India, Vedanta and Bharat Heavy added to losses on the index. Shares in ONGC dropped despite the changes in hydrocarbon policy announced by the government on Thursday.

Banking stocks also ended the day with marginal losses with State Bank of India and ICICI Bank being among the losers in trade.

The BSE Midcap index saw some losses with Jindal Steel largely dragging down the index.

Meanwhile, markets across Europe were seeing gains of close to 2 per cent in trade.

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