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Shares of Havells India gained as much as 2.33 percent to Rs 336 after 2.2 million shares of the company changed hands in a single block deal.
Sugar companies gained the most in four months after the reports suggested that government was considering debt recast plans for the companies. Stocks like Dalmia Bharat Sugar, Bajaj Hindusthan, Dwarikesh Sugar and Dhampur Sugar saw gains between 6-10 percent.
Moving in-line with a weaker dollar the rupee added 16 paise to trade at 67.94 against the greenback, during its last session for this year as exporters and banks intensified selling of the U.S. currency amid a higher opening in the stock market.
Yesterday, the local unit had recovered by 14 paise to close at 68.10 on fresh selling of the greeenback in view of its weakness overseas amid a revival in domestic equities.
Movers & Shakers: Petronet LNG, Phoenix Mills, IFCI And More
Indian rupee strengthened yesterday, widening its first monthly gain in three months. But, going into the first quarter of 2017 the currency may weaken against the dollar as investors watch for the U.S. Fed's action on interest rate.
The consensus view that demonetization will have a big negative impact on India's short-term growth is wrong, that's according to Bloomberg Intelligence. The nation's GDP may grow at 7.5 percent this fiscal, a tad below the 7.7 percent estimate before the demonetization.
Among global currencies, technical charts signal the recent momentum in the pound, krone and rand may continue.
Bond Market Update:
Indian sovereign bonds look poised to extend 2016’s Asia-beating rally in the new year with interest-rate cuts expected in a banking system already flush with cash. The benchmark 10-year yield will probably fall to 6.23 percent by March-end, from 6.52% on Thursday.
Read: Modi set to face fallout from his 50-day cash promise to India
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