Blue-chip large-cap banking stocks drove the gains with SBI, HDFC Bank, Axis Bank and ICICI Bank contributing the most to the rise in Nifty 50 and Sensex on October 10.
Short-covering can take lead Dalal Street higher, according to experts, even though valuations at the current juncture remain elevated.
Silver rate today: Check the latest prices of 10 grams of 22 carat and 24 carat silver in major cities of the country on October 10.
The rupee was last at 85.7 as of 10:45 a.m. on Friday, up 0.1% on the day and holding above its all-time low of 88.8 set last week
Sensex and Nifty opened on a cautious note in the final session of the week, with metal stocks weighing on sentiment even as banking and oil counters offered some support.
For the session today, IT stocks will be in focus after Tata Consultancy Services came out with its September quarter earnings
Cipla, SBI, Axis Bank, Maruti Suzuki, Bajaj Auto were among major gainers on the Nifty, while losers included Tata Steel, TCS, JSW Steel, Tech Mahindra, Shriram Finance. BSE Midcap index rose 0.3%, and smallcap index gained 0.6%. On the sectoral front, metal index shed 0.7 percent, while auto, bank, consumer durables, PSU bank, realty, pharma added 0.5-1 percent.
All the sectoral indices ended in the green with pharma, oil & gas, realty, metal, PSU Bank IT added 0.5-1 percent.
Analysts advise traders to 'buy-on-dips', and fresh long positions should be considered only if the Nifty sustains above the 25,250 mark.
Analysts adivse traders to 'buy-on-dips', and fresh long positions should be considered only if the Nifty sustains above the 25,250 mark.
Silver rate today: While domestic prices increased, silver futures dropped in trade.
Gold rate today: Gold futures on MCX with December expiry were down 0.11% (Rs 138) to Rs 1,23,071 per 10 grams.
The central bank has built up short dollar positions of at least $15 billion in the non-deliverable forwards market over the past two to three weeks
Analysts adivse traders to 'buy-on-dips', and fresh long positions should be considered only if the Nifty sustains above the 25,250 mark.
According to analysts, while global cues will remain influential, market focus is expected to shift toward domestic earnings and the festive season momentum.
On the sectoral front, pharma, oil & gas, realty, metal, PSU Bank IT added 0.5-1 percent. BSE Midcap index jumped 0.75%, while smallcap index ended flat. Biggest Nifty gainers were HCL Technologies, JSW Steel, Tata Steel, SBI Life Insurance, Interglobe Aviation, while losers were Tata Consumer, Axis Bank, Maruti Suzuki, Titan Company and Bharti Airtel.
Among sectors, except consumer durables (up 0.7), IT (up 1.5%) all other sectoral indices ended in the red with realty, telecom, pharma, oil & gas, media, PSU Bank, auto down 0.3-2%.
Domestic equity benchmark indices Nifty 50 and 30-share Sensex erased their morning gains to settle with losses for the October 8 session.
Silver rate today: Silver futures with December expiry on MCX hit an all-time high level of Rs 1,48,724 per kilogram today.
Gold rate today: Gold futures on MCX with December expiry hit an all-time high level of Rs 1,22,780 per 10 grams today.
Domestic equity benchmark indices Nifty 50 and 30-share Sensex erased their morning gains to trade with losses in the afternoon session on October 8.
Analysts however advise caution, suggesting that investors may resort to profit booking at these elevated levels, resulting in some consolidation in short-term.
BSE Midcap index shed 0.7% and Smallcap indices declined 0.4%. Among sectors, except consumer durables, IT all other sectoral indices ended in the red with realty, telecom, pharma, realty, oil & gas, media, PSU Bank, auto down 0.3-2%. Tata Motors, UltraTech Cement, Jio Financial, ONGC, NTPC were among major losers on the Nifty, while gainers were Titan Company, Infosys, TCS, Tech Mahindra and Bharti Airtel.
Jio Financial, Bharti Airtel, Eternal, Eicher Motors, HCL Technologies were among major gainers on the Nifty, while losers included Trent, Tata Motors, Axis Bank, Tata Consumer and HUL.
Dalal Street maintained its upward momentum for the fourth consecutive session. The Nifty index climbed to an intraday high of 25,220, but encountered some profit booking.