The Sensex on Friday ended a three-day losing streak, gaining 411.38 points, or 1%, to close the day at 41,575.14, primarily led by banking and financial stocks. The Nifty 50 gained 119.25 points, or 0.98%, to close at 12,245.80.
The BSE Midcap and BSE Smallcap rose 0.87% and 0.84%, respectively. The market breadth was tilted in favour of bulls.
On BSE, 1,518 shares rose and 1,025 were in the red, while 168 remained flat. In Nifty 50 index, 42 stocks advanced while eight fell.
Among sectoral indices, BSE Energy was the biggest gainer, up 1.74%, followed by BSE Realty at 1.61% and BSE Oil & Gas at 1.35%. BSE Consumer Durables was the only index to fall, declining 0.13%.
Asian markets also closed higher. Hong Kong’s Hang Seng index rose 1.3%, Taiwan’s Taiex index gained 0.75% and Malaysia’s FTSE Malay KLCI index rose 0.44%.
Allahabad Bank surged 8.17% to close at ₹19.20 after the lender announced a fresh capital infusion of ₹2,153 crore from the government for FY20.
CARE Ratings was up 2.60% to ₹522.30 although Sebi imposed a fine of ₹25 lakh each on it and two other credit rating agencies pertaining to ratings of various debentures of IL&FS. Sebi said they had failed in assigning rating to various NCDs of IL&FS.
Gujarat Gas Ltd rose 3.59% intraday to ₹232, after Crisil upgraded the long-term rating on the company’s bank loan facilities of ₹2,350 crore to AA+/Stable from AA/Positive. It ended the day at ₹225.65, up 0.76%. Crisil’s upgrade reflects its expectations of an improvement in GGL’s credit profile over the medium-term. Sustainable improvement in cash accruals is expected to improve GGL’s financial risk profile, notwithstanding a sizeable capital expenditure programme.
H.G. Infra Engineering jumped 8.12% to close at ₹263.55 as it emerged as the L-1 bidder for the construction of the proposed Rewari Bypass (NH-1), according to the National Highways Authority of India.
Shares of Page Industries closed 5.21% higher at ₹23,450 after Icra reaffirmed its long-term ratings to Icra AA with a stable outlook.