The BSE Sensex rose 355.06 points to 57,989.90. (File)
Bombay:
Stock benchmarks Sensex and Nifty weathered bouts of volatility to settle in the green for a second consecutive day on Friday, supported by robust demand for metals, banking and financial stocks amid a firm trend in global equities.
A stronger rupee and lower crude oil prices in international markets were also affecting sentiment here, traders said.
In volatile trading, the 30-piece BSE Sensex rose 355.06 points, or 0.62 percent, to 57,989.90. During the day it hit a high of 58,178.94 and a low of 57,503.90.
The broader NSE Nifty gained 114.45 points, or 0.67 percent, to end at 17,100.05.
HCL Tech topped the Sensex winners chart, up 3.58 percent, followed by UltraCement, Nestle India, Tata Steel, Kotak Bank, ICICI Bank, Bharti Airtel and HDFC Twins.
In contrast, ITC, Maruti, NTPC, Asian Paints and Sun Pharma were among the top laggards, down as much as 1.51 percent.
In the broader market, the BSE midcap gauge was up 0.29 percent and the small cap index was up 0.69 percent.
Markets were volatile and moved positively as investors resorted to selective buying. European indices and other Asian peers posted significant gains, which greatly excited local traders.
Elsewhere in Asia, equity markets in Shanghai, Tokyo, Seoul and Hong Kong posted gains.
Stock exchanges in Europe traded in the green on deals during the session. Major indices on Wall Street ended in positive territory overnight.
Meanwhile, international benchmark Brent oil rose 1.16 percent to $75.57 a barrel.
The rupee was 18 paise higher at 82.58 against the US dollar on Friday.
According to experts, the Indian banking system is expected to be spared from the problems of Credit Suisse as it has a very small presence in the country.
Although Credit Suisse is more relevant to the Indian financial system than Silicon Valley Bank (SVB), it has very limited operations, according to a report by Jefferies India.
Foreign institutional investors (FIIs) sold shares worth Rs 282.06 crore net, according to stock market data on Thursday.
(Except for the headline, this story was not edited by NDTV staff and was published by a syndicated feed.)
