Gains drive market to end high; Auto Index led gains
The stock market ended higher on Friday, driven by gains. The domestic market witnessed low volatility in the absence of fresh triggers and traded on a positive note throughout the session.
The BSE benchmark Sensex and broader Nifty ended on a red note on Wednesday as the US-Iran clash kept global investors on the edge.
After plunging nearly 400 points during the session, Sensex pared some losses to settle 51.73 points down at 40,817.74.
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Similarly, the broader Nifty was down by 27.60 points to close at 12,025.35.
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On the Sensex stocks Bharti Airtel, TCS, Ultratech Cement, Bajaj Finance and ICICI Bank spurted up to 2.74 per cent. Whereas, L&T was the top laggard, shedding 2.19 per cent, followed by ONGC, Titan, Sun Pharma, Hero MotoCorp and Infosys.
As per the market experts, domestic stocks followed global equities that fell due to the increasing tensions in the Middle East after Iran launched missiles targeting US military bases in Iraq in retaliation for the killing of Iran’s top general Qasem Soleimani.
Brent crude oil futures rose nearly 0.62 per cent to USD 68.67 per barrel. On the other hand, rupee recovered from its early losses to trade 3 paise up at 71.78 per US dollar (intra-day).
(With input from agencies)
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