The sentiment got support from better-than-expected earning results by select companies and continuous buying by domestic financial institutions.
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
Sentiment was largely positive after April IIP grew at 4.9 per cent, spurred by higher growth in manufacturing and mining sectors.
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
A recovery in rupee, buying by domestic institutional investors, encouraging earnings by select blue-chips and stock specific buying helped the market get back on its feet
Market breadth turned negative with 1,779 declines over 884 advances on the BSE
Persistent capital inflows by domestic institutional investors and retail investors kept the markets in fine nick
Investors have kept their eyes on US-China trade talks and are optimistic about a positive outcome.
Equity benchmarks Sensex and Nifty on Friday spurted by nearly 2 per cent, propelled by heavy buying in IT, metal and financial stocks amid a rally in global markets after lower-than-expected US inflation data. A strong rupee against the US dollar and unabated foreign capital inflows further bolstered sentiment, traders said. Easing US inflation triggered speculation that the US Federal Reserve might slow down the pace of interest rate hikes.
Sun Pharma was the best gainer among Sensex components, surging 6.91 per cent
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
Sensex, Nifty end the day in red on unfavourable cues from global markets.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
At an aggregate level, the late ace investor's portfolio that was valued at Rs 32,445 crore as on March 31, 2023 is now worth Rs 35,979 crore.
As per BSE website, Infosys is now the top holding in 30-share S&P BSE Sensex, followed by ITC.
Investor sentiments remained upbeat tracking global developments as the US, China geared up for trade talks due this week.
Banking shares saw a renewed buying interest on the hopes of a rate-cut by the central bank post the easing of macro-economic data.
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
Financial shares were among the top Sensex gainers along with auto and pharma shares.
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
Among the gainers, Sun Pharma topped by rising 3.03 per cent as the weak rupee tempted buyers to accumulate shares of pharma exporters.
After paring some gains, the 30-share index settled at an all-time closing high of 28,008.90, up by 98.84 points, or 0.35 per cent, over the previous close.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The top gainers on the Sensex were Cipla, Bharti Airtel, Maruti Suzuki, Hero Moto & Sesa Sterlite.
Benchmark stock indices Sensex and Nifty closed higher for a second straight session on Monday following buying in index majors Reliance Industries, ICICI Bank and recovery in global markets.
Benchmark BSE Sensex rose by about 322 points to close above the 60,000 level on Monday tracking gains in banking, IT and energy stocks amid positive global equities. The 30-share barometer closed higher by 321.99 pts or 0.54 per cent at a three-week high of 60,115.13, as 21 of the index constituents closed in the green. After a strong opening, the index touched a day's high of 60,284.55 and a low of 59,912.29.
HDFC and Infosys contribute the most to today's rally.
Maruti Suzuki was the biggest gainer among Sensex scrips, rising 5.89 per cent, followed by M&M up 5.29 per cent.
This was the biggest single-day fall for the benchmark index since August 10 when it had fallen by 310 points.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The BSE Midcap and Smallcap indices have performed better than the front-liners
Sensex closed over 118 points down on Thursday.
Oil & gas, banking and pharma sector stocks stole the show
SBI plunged over 3% after posting a 34.57% fall in net profit to Rs 2,538 crore for the quarter ended September 2016 on rise in provisions for non-performing loans.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
The 30-share Sensex ended down 32 points at 28,851 and the 50-share Nifty closed 12 points lower at 8,712.
Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
The index had risen over 585 points in the previous three sessions.
Investors' wealth tumbled over Rs 5.78 lakh crore in two days of market fall amid a weak trend in global markets after a host of central banks hiked interest rates and gave hawkish commentary. The 30-share BSE Sensex declined 461.22 points or 0.75 per cent to settle at 61,337.81 on Friday. In the previous trade, the BSE benchmark had tanked 878.88 points or 1.40 per cent to settle at 61,799.03.
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