Nifty Ends Above 8,900 First Time In Over Six Months; Axis Bank Jumps 5.3%
Asian stocks climbed, as investors backed away from haven assets and dollar strengthened.
Closing Bell
Indian shares extend gains, with key benchmarks advancing to over six-month high led by a reversal in bank stocks and metal makers extending their rally for a second day.
A recovery in European shares, led by mining stocks on surging commodities prices helped equities break out of their tight intraday range.
Brokers said that a pick-up in buying activity coupled with covering-up of short position by speculators in the face of February month's expiry in the derivatives segment on Thursday had a positive impact too.
The S&P BSE Sensex climbed 0.3 percent to 28,761 while the NSE Nifty rose 0.3 percent as well to close above the 8,900-mark for the first time since September 08, 2016. The market breadth was skewed in favour of the bulls. About 980 stocks advanced, 699 declined and 305 remained unchanged on the NSE.
Barring the S&P BSE Telecom, S&P BSE Information Technology and S&P BSE TECK indexes, all other 16 sectoral gauges on the exchange advanced.
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Shares fall as much as 5.8 percent, most since November 15 on volume around 64 times its three-month full-day average. It was also the most traded Indian stock by value and volume.
- Worst performer on S&P BSE 200, BSE 500 Indexes
- About 1.51 crore shares changed hands on NSE, according to Bloomberg data
- Buyers, sellers not immediately known
Opening Bell
Indian shares climbed marginally higher, with key benchmarks extending their advance for a fourth session, as metal makers continued to rally on higher prices and extension in an anti-dumping duty.
The S&P BSE Sensex gained 0.2 percent to 28,726 while the NSE Nifty 50 rose as much as 0.2 percent to 8,897. The market breadth was also encouraging with more number of buyers than sellers. About 1,009 stocks advances, 448 declined and 439 remained unchanged.
Brokers said that a pick-up in buying activity coupled with covering-up of short position by speculators in the face of February month's expiry in the derivatives segment on Thursday had a positive impact too.
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