Sensex up 85 points; RIL, HUL soar
Mumbai: The BSE benchmark Sensex on Friday closed 85 points higher led by gains in bluechips, including RIL and HUL, on sustained buying by funds on some capital inflows, amid a firm trend overseas.
The 30-share index commenced the day's trade on a bullish note at 19,616.89 but lost most of the early gains and settled just 84.98 points, or 0.44 percent higher at 19,495.82. Sensex had gained over 233 points yesterday.
Similarly, the wide-based National Stock Exchange index Nifty gained 30.95 points, or 0.53 percent, to close at 5,867.90. Also, SX40 index, the flagship index of MCX-SX, closed 60.3 points, or 0.52 percent higher at 11,625.88.
Brokers said the market remained firm as market heavyweights Reliance Industries surged and Hindustan Unilever climbed to record high after Anglo-Dutch parent company Unilever Plc said it has increased its stake in it.
A firming trend on other Asian bourses and higher opening in European markets as investors awaited data on the US job data also boosted the trading sentiment here, they added.
Sugar stocks were also back in demand following reports that the government is planning to hike import duty to discourage arrivals from overseas markets.
Meanwhile, foreign institutional investors continued lapping up domestic equities and pumped in over Rs 164.56 crore yesterday, as per BSE provisional data.
Out of the 30 BSE index components, 16 stocks ended higher led by Jindal Steel rising 3.51 percent to close at Rs 223.90.
Among other major gainers, RIL rose by 2.15 percent to Rs 880.20 and HUL by 1.40 percent to Rs 609.15.
Sectorally, the oil and gas sector index gained the most by rising 1.49 percent to 8,915.96, followed by FMCG index by 0.89 percent to 6,845.94.