The Indian benchmark indices ended higher on Friday led by banking, financial, auto and consumer durable stocks.
There was some respite in the rout of Gautam Adani's companies. Five out of the nine group stocks fell as the Indian billionaire battles to restore confidence in his conglomerate's financial health after accusations by short-seller Hindenburg Research. Shares of Adani Enterprises Ltd. dropped 35%, the most ever during intraday trading.
The S&P BSE Sensex ended 1,000 points or 1.52% higher at 60,841.88, while NSE Nifty 50 Index gained 244 points or 1.38% to close at 17,854.05.
Adani Ports and SEZ Ltd., Titan Co., Bajaj Finance Ltd., Bajaj Finserv Ltd. and HDFC Bank Ltd. were the top gainers in the gauge.
Divi's Laboatories Ltd., BPCL Ltd., Tata Consumer Products Ltd., Hindalco Industries Ltd. and HDFC Life Insurance Co. were the top losers among the NSE Nifty 50 Index constituents.
The broader market indices traded lower. S&P BSE MidCap was down 0.04%, while S&P BSE SmallCap was lower by 0.47%.
Eight out of the 19 sectors compiled by BSE declined, while the 11 advanced in trade.
The market breadth was skewed in favour of the bears. About 1,359 rose, 2,174 declined and 135 remained unchanged on the BSE.
After snapping their two-week gains last week, the headline indices resumed their advance and rose this week.
Sensex was up 2.55% and Nifty was higher by 1.42% in this week. The indices declined by 2.13% and 2.35% respectively last week.
Sectorally, Nifty FMCG, Bank, IT and Auto indices gained for than 1% this week.
On the other hand, Nifty Metal, Pharma, Media and Realty were the weekly losers.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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