Markets close marginally higher, Nifty surges above 11,000

New Delhi: Markets closed on a positive note on with the Nifty surging above 11,000 led by rally in pharma and banking stocks.

The BSE Sensex rose 52.16 points 0.14 percent to 37,402.49 while the NSE Nifty edged marginally higher by 6.10 points or 0.055 percent to 11,053.90.

Major gainers in the Sensex pack were Sun Pharma, Tech Mahindra, Axis Bank, L7T, RIL, ICICI Bank, NTPC, HDFC, Infosys, HCL Tech, Vedanta and TCS, rising upto 2.66 percent. On the other hand shares of Yes Bank, Powergrid, ONGC, SBI, M&M, Heromoto Corp, Tata Steel, Asian Paint, HDFC Bank, Bajaj Auto, ITC, and Tata Motors fell upto 3.46 percent.

Foreign portfolio investors sold shares worth a net of Rs 1,339.27 crore on Friday, while domestic institutional investors purchased shares worth Rs 1,058.28 crore, provisional data showed.

In the previous session on Friday, the BSE Sensex fell 260.79 points or 0.70 percent to 37,050.74 in early trade while the NSE Nifty dropped 75.35 points or 0.68 percent to 10,954.05. Markets were closed on Thursday on account of Independence Day.