The Indian benchmark indices ended the day on a positive note, with both Sensex and Nifty rallying over a percent each, ahead of Lok Sabha election exit poll results that will be announced on Sunday, 19 May.
The S&P BSE Sensex closed over 1.2 percent higher this week to end at 37,930.77 and the NSE Nifty 50 ended at 11,407, down 1.1 percent. The broader market index represented by the NSE Nifty 500 Index closed 0.43 percent higher during the period. The benchmark indices had declined during the last three weeks, reported BloombergQuint.
The benchmark indices extended gains for the second consecutive trading session. Today, the 31-share index and the 50-stock index closed higher by 1.33 percent and 1.44 percent respectively. The 500-share gauge rose 1.17 percent.
The market breadth was tilted in favour of buyers. About 1,029 stocks advanced and 723 shares declined on National Stock Exchange.
Eight out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Media Index’s 3.5 percent advance. On the flipside, the NSE Nifty Pharma Index was the top sectoral loser, down 1.5 percent.
Meanwhile, the investor sentiment was driven by robust earnings of Bajaj Fianncial and Bajaj Finserv.
Zee, Bajaj Finance, Bajaj Finserv, HeroMoto Corp, and Maruti were among the major gainers on the Nifty50, whereas Dr Reddy's YES Bank, IOC, Vedanta, and Hindalco led the losses, reported CNBC-TV18.
(With inputs from BloombergQuint and CNBC-TV18)