Sensex, Nifty log 1st gain in five days; financial, pharma stocks take charge

Mumbai: Market gauges Sensex and Nifty broke their four-session losing run on Friday as emergence of buying in financial, pharma and IT stocks negated losses in metal counters.

After a range-bound trading through the day, the BSE Sensex ended 166.07 points or 0.32 per cent higher at 52,484.67.

Likewise, the broader NSE Nifty advanced 42.20 points or 0.27 per cent up at 15,722.20.

On the Sensex chart, ICICI Bank was the top gainer, rising over 1.5 per cent, followed by RIL, SBI, Titan, HDFC, Axis Bank, Bajaj Finance and Infosys.

On the other hand, Tata Steel, PowerGrid, Bajaj Auto, Asian Paints and Sun Pharma were major laggards.

Of the 30 Sensex constituents, 16 shares ended with gains and 14 suffered losses.

Sectorally, BSE consumer durables, energy, healthcare, telecom, realty, bankex and finance indices rose up to 1.23 per cent. On the other hand, power, metal, utilities and capital goods indices ended in the red.

Broader midcap and smallcap indices outperformed the benchmark, rising up to 1.01 per cent.

During the week, Sensex declined by 440.37 points or 0.83 per cent, while Nifty fell 138.15 points or 0.87 per cent.

“Domestic equities continued to trade in a range-bound with benchmark indices witnessing marginal gains. While financials, pharma and realty indices recovered modestly today, profit booking was visible across metals and FMCG counters,” Binod Modi, Head-Strategy at Reliance Securities, said.

Notably, midcap and smallcap indices continued to outperform as improved earnings visibility attracted investors towards this space, he noted.

Vinod Nair, Head of Research at Geojit Financial Services, said, “Amid lack of domestic triggers, main indices traded flattish and ended with minor gains… Domestic banking stocks gained although RBI in its Financial Stability Report indicates that Gross NPA percentage could climb to a baseline of 9.8 per cent by March 2022.”

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul closed in the red, Tokyo ended with gains.

Equities in Europe were trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude was quoting marginally lower at USD 75.79 per barrel.

On the forex market front, the rupee logged its fourth straight loss on Friday, dropping another 19 paise to end at 74.74 to the US currency.