Mumbai: Equity benchmark indices Sensex and Nifty rallied for the second straight session Friday, supported by robust buying in IT firms and earnings-driven demand in the Tata Group’s retail arm Trent.
The 30-share BSE Sensex climbed 308.49 points, or 0.42 per cent, to settle at 74,459.53. During the day, it surged 591.55 points, or 0.79 per cent, to 74,742.59.
The 50-share NSE Nifty rallied 116.35 points, or 0.51 per cent, to end at 23,053.10.
Among the Sensex firms, Trent jumped 5.20 per cent after the Tata Group’s retail arm Thursday reported a 25 per cent year-on-year increase in consolidated net profit to Rs 468 crore for the September quarter, as revenue growth and operating leverage supported earnings amid an inflationary environment.
InterGlobe Aviation, Infosys, NTPC, Power Grid, Eternal, Tech Mahindra and HCL Tech were also among the major gainers.
In contrast, State Bank of India, Mahindra & Mahindra, UltraTech Cement and Tata Steel were major laggards.
Brent crude, the global oil benchmark, jumped 2.17 per cent to USD 117.4 per barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 943.60 crore Thursday, according to exchange data.
In Asian markets, South Korea’s Kospi, Japan’s 225 index and Shanghai’s SSE Composite index ended lower. In contrast, Hong Kong’s Hang Seng index settled higher.
European markets were trading mostly lower. The US markets ended lower Thursday.
On Thursday, the Sensex rallied 905.01 points, or 1.24 per cent, to close at 74,151.04. The Nifty ended 237.90 points, or 1.05 per cent, higher at 22,936.75.
