Benchmarks extend rally for 4th session; FIIs drive gains

Mumbai:Equity benchmark indices Sensex and Nifty advanced for the fourth straight session on Friday, supported by buying in blue-chips ICICI Bank and Reliance Industries amid fresh foreign fund inflows. A strengthening rupee against the US dollar and softening crude oil prices in international markets also boosted investor confidence, according to traders.

The BSE Sensex climbed 303.03 points or 0.36 per cent to reclaim the 84,000 level and settle at 84,058.90. During the day, it jumped 333.48 points or 0.39 per cent to 84,089.35. As many as 2,251 advanced, while 1,760 declined and 154 remained unchanged on the BSE. On the similar lines, the 50-share NSE Nifty rose 88.80 points or 0.35 per cent to 25,637.80. On the weekly front, the BSE benchmark surged 1,650.73 points or 2 per cent, and the Nifty climbed 525.4 points or 2 per cent. “Benchmark indices Nifty and Sensex closed on a firm footing on Friday, capping off the week with robust gains. The rally was underpinned by de-escalation in geopolitical tensions post the Israel-Iran ceasefire and growing optimism surrounding a prospective US-India trade pact, which acted as key macro tailwinds. On a weekly basis, both frontline indices logged gains of 2 per cent,” according to Bajaj Broking market commentary.

From the Sensex pack, Asian Paints, UltraTech Cement, Power Grid, ICICI Bank, Reliance Industries, Hindustan Unilever, Bharat Electronics and Sun Pharma were among the major gainers.