Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
FII stance, progress of monsoon, crude oil and rupee movement are likely to dictate the trend.
The first quarter earnings season will dictate the trend in the equity markets in this holiday-shortened week amid absence of major macroeconomic drivers, say analysts. Besides, lacklustre global markets may increase volatility in the market, they added. Equity markets would remain closed on Wednesday for Bakri-Id.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
Markets climb higher tracking global cues.
Asian Paints was the top gainer after the paints major posted robust first quarter earnings.
BSE Metal and Capital Goods indices plunged over 2% followed by counters like Consumer Durables, Auto, Banks and Realty, all falling down between 1-2%.
Stock markets will focus on global trends for further direction in this holiday-shortened week as the earnings season is largely over, analysts said. Trade experts expect the key benchmark indices to move sideways as investors are trying to decode the impact of rising inflation on foreign portfolio investments. Inflation data released by the US and China last week have fanned fears of earlier than expected rate hike and boosted US bond yields.
n the broader market, both the BSE Midcap and Smallcap indices, were up 1.2% and 0.7% each.
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
The 30-share Sensex was up 188 points at 28,415 and the 50-share Nifty was up 58 points at 8,584.
The S&P BSE Sensex ended up 28 points at 25,844 and the Nifty50 ended flat at 7,915.
ONGC was the top gainer in the Sensex pack, rallying around 5 per cent, followed by NTPC, Reliance Industries, IndusInd Bank, Axis Bank and PowerGrid. NSE Nifty rose 115.35 points to reclaim 15,000 level.
The 30-share Sensex ended up 292 points at 29,571 and the 50-share Nifty closed up 75 points at 8,910.
On the sectoral front, rate-sensitive sectors such as Bankex and Auto gained by 1% and 0.7% respectively while BSE Consumer Durables gained 1.4%.
The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
ONGC, Sesa Sterlite, Tata Steel, RIL and HDFC emerged as the biggest losers
The Sensex had bounced back with gains of 94 points or 0.3%
These sectors have underperformed the wider market over the past year and are seen having far more upside potential if the economy picks up thanks to Modi's reformist agenda.
Monsoon is expected to be normal in June.
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The 30-share Sensex ended 117 points higher at 26,560 and the 50-share Nifty gained 31 points to end at 7,936.
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Notwithstanding the inflation pinch, analysts believe the Indian retail sector is on the 'cusp of accelerated earnings growth' as consumer sentiment and discretionary purchases bounce back from the Covid-19 pandemic. "The shift in consumer preference from the unorganised sector to the organised, coupled with uptick in domestic demand as people resume work from office, will cheer the Indian retail sector," says Nishit Master, portfolio manager, Axis Securities. Shopping malls are witnessing increased footfall in lower tier towns and standalone stores as consumption picks up and mobility improves.
Capital goods shares continued to trade firm in late noon despite weak market trend on the back of encouraging core sector growth in February.
Infosys, Tata Motors, ONGC, TCS and GAIL are the top 5 losers.
Asian shares ended higher after a string of positive US economic data.
The Survey shows fiscal consolidation despite slowdown in growth.
Banks stocks continued to trade weak along with FMCG major ITC.
Benchmark share indices gained for the fifth straight session on Thursday led by index heavyweight Reliance Industries.
BSE Healthcare, Oil & Gas, Consumer Durable, TECk, Power and Metal indices declined between 0.5-1%.
Brokers said a flurry of buying by investors in blue-chips mainly influenced the sentiment.
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