New Delhi: Markets ended on a positive note on Friday with both equity indices jumping over 0.90 percent led by gains in auto and banking stocks.
The BSE Sensex soared 337.35 points or 0.92 percent to 36,981.77 while the NSE Nifty zoomed 98.30 points or 0.91 percent to 10,946.20 at close.
Tech Mahindra was the biggest gainer in the Sensex pack, rising over 3.77 percent, following its announcement on expansion of strategic multi-year collaboration with AT&T.
Other major gainers in the Sensex pack were Maruti, Axis Bank, Tata Steel, NTPC, Bajaj Auto, Tata Motors, M&M, Bajaj Finance, Kotak Bank, Heromoto Corp and RIL, rising upto 3.61 percent. Bucking the trend, shares of HDFC, ITC, HUL, TCS, HCL Tech, Sun Pharma and Yes Bank, ended in red, falling upto 2.42 percent.
Auto stocks have been on the roll since yesterday after Minister of MSME and Road, Transport and Highways Nitin Gadkari's speech at 59th SIAM Annual Convention infused fresh leash of life for the sagging auto sector.
Gadkari said that the long pressed issue for reducing GST on petrol and diesel vehicles will be taken up with finance minister Nirmala Sitharaman. He also said that government will award construction work worth Rs 5 lakh crore to boost the auto sector.
In the previous session on Thursday, the BSE Sensex ended 80.32 points or 0.22 percent down at 36,644.42, while the Nifty settled 3.25 points percent higher at 10,847.90.