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Market Closing: Nifty Ends Above 15,850; Financials, Metals Outperform

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After a turbulent start, the Indian benchmark indices ended higher in Friday'strade, while heavyweight Reliance Industries restrained the gains. The Central Bank of India, IOB, and Bank of Baroda led the Nifty PSU Bank index higher by about 3%.

 

The S&P BSE Sensex finished the day up 226 points, or 0.41 percent, at 52,925, while the Nifty50 index stayed around 15,850.

Market Closing: Nifty Ends Above 15,850; Financials, Metals Outperform

As the spotlight switches to monthly production statistics, the Nifty Metal index outpaced the benchmark and other sectoral indices. For metal stocks, the start of the July series has been fortunate. The largest gainer was NALCO, which rose 5.3 percent, followed by Vedanta, which rose 4.9 percent.

On the Nifty, significant gainers were Tata Steel, Axis Bank, SBI, ICICI Bank, and Hindalco Industries, while major losers included Reliance Industries, Titan Company, NTPC, HUL, and Asian Paints.

Rupee closes at 74.19 per dollar, up from 74.16 on Thursday.

GAIL India Ltd's long-term foreign-currency issuer default rating has been affirmed by Fitch Ratings at BBB-minus with a negative outlook. After winning a Rs 250 crore deal in Latin America, Thermax gains 6%.

 

The majority of the Nifty sectors indices were in the green, headed by the Nifty Metal and Nifty PSU Bank indexes, which were both up over 2%.

GoodReturns.in

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