Equity benchmark indices Sensex and Nifty rallied for the second straight session on Friday, supported by robust buying in IT firms and earnings-driven demand in the Tata Group''s retail arm Trent. The 30-share BSE Sensex climbed 308.49 points, or 0.42 per cent, to settle at 74,459.53. During the day, it surged 591.55 points, or 0.79 per cent, to 74,742.59.
The 50-share NSE Nifty rallied 116.35 points, or 0.51 per cent, to end at 23,053.10.
Among the Sensex firms, Trent jumped 5.20 per cent after the Tata Group's retail arm on Thursday reported a 25 per cent year-on-year increase in consolidated net profit to Rs 468 crore for the September quarter, as revenue growth and operating leverage supported earnings amid an inflationary environment.
InterGlobe Aviation, Infosys, NTPC, Power Grid, Eternal, Tech Mahindra and HCL Tech were also among the major gainers.
In contrast, State Bank of India, Mahindra & Mahindra, UltraTech Cement and Tata Steel were major laggards.
Crude Rates Hike
Brent crude, the global oil benchmark, jumped 2.17 per cent to USD 117.4 per barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 943.60 crore on Thursday, according to exchange data.
In Asian markets, South Korea's Kospi, Japan's 225 index and Shanghai's SSE Composite index ended lower. In contrast, Hong Kong's Hang Seng index settled higher.
European markets were trading mostly lower. The US markets ended lower on Thursday.
On Thursday, the Sensex rallied 905.01 points, or 1.24 per cent, to close at 74,151.04. The Nifty ended 237.90 points, or 1.05 per cent, higher at 22,936.75.
Rupee Appreciates
The rupee appreciated 33 paise to close at 94.93 (provisional) against the US dollar on Friday, supported by a positive trend in domestic markets and a soft US dollar, though elevated crude oil prices and weaker broader markets capped sharp gains.
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Forex traders said both the currency and the bond market found additional support from softer crude oil prices and the central bank's intervention.
At the interbank foreign exchange market, the rupee opened at 95.21, then gained ground and touched an intraday high of 94.94 and a low of 95.28 against the American currency and finally closed at 94.93 (provisional), registering a gain of 33 paise over its last close.
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