Market snaps 5-day losing streak led by realty, banking and metal
At close, the Sensex was up 498.58 points or 0.64% at 78,540.17, and the Nifty was up 165.95 points or 0.70% at 23,753.45.
In a firm start for the June series, Indian indices on Thursday opened on a higher note with Sensex up 200 points at 40,060 while Nifty rose 0.63 per cent to 12,021.
The major gainers on the indices in the early trade were Bharti Airtel, HDFC Bank, JSW Steel, Coal India, HPCL, Berger Paints, IndiGo and Tata Steel.
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The Indian rupee gained in the early trade on Friday. It has opened higher by 11 paise at 69.76 per dollar versus Thursday’s close 69.87.
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The BSE Sensex on Thursday ended at a record closing high of 39,832, ahead of the swearing in of the new Union Cabinet.
The Sensex advanced by 329.92 points, or 0.84 per cent, while the Nifty also advanced by 84.80 points, or 0.71 per cent, to 11,945.90.
Appointments for four key departments – Home, Defence, External Affairs and Finance – is said to make an impact on the market, according to trade analysts.
Prime Minister Narendra Modi’s new Cabinet meeting will be held on Thursday evening, where the allocation of portfolios is expected to take place.
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