Sensex gains 167 pts on buying in bank shares, Reliance

NewsDrum Desk
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Mumbai, Feb 9 (PTI) Benchmark Sensex closed higher by 167 points in a volatile trade on Friday driven by buying in ICICI Bank, State Bank of India and Reliance Industries.


The 30-share BSE Sensex climbed 167.06 points or 0.23 per cent to settle at 71,595.49. During the day, it hit a high of 71,676.49 and a low of 71,200.31.

The broader Nifty rose by 64.55 points or 0.30 per cent to 21,782.50 with 27 of its shares closing in the green and 23 in the red.

Stock markets took a breather after Thursday's slide and ended marginally higher on gains in banking and FMCG shares, analysts said. On the other hands, metal telecom and power shares came under selling pressure.


"After a volatile session, the market ended on a positive note, aided by a rebound in banking stocks after yesterday’s sell-off. Mid and smallcap indices bled the most as the sentiment on the broader indices remains vigilant due to their rich valuation," said Vinod Nair, Head of Research, Geojit Financial Services.

In the broader market, the BSE smallcap gauge fell by 1.36 per cent and midcap index declined 0.82 per cent.

Among the indices, oil & gas went lower by 1.97 per cent, metal fell by 1.62 per cent, telecommunication (1.45 per cent), utilities (1.36 per cent), industrials (1.21 per cent) and power (1.10 per cent).


Bankex, FMCG, financial services, consumer durables and healthcare were the gainers.

On the weekly front, the BSE benchmark declined 490.14 points or 0.67 per cent, and the Nifty dipped 71.3 points or 0.32 per cent.

In Asian markets, Tokyo and Shanghai settled in the positive territory while Hong Kong ended lower.


European markets were trading on a mixed note. The US markets ended in the green on Thursday.

Foreign institutional investors (FIIs) offloaded equities worth Rs 4,933.78 crore on Thursday, according to exchange data.

The BSE benchmark fell by 723.57 points or 1 per cent to settle at 71,428.43 on Thursday amid uncertainty about the timing of interest rate reduction after the Reserve Bank of India's monetary policy decision. The Nifty declined by 212.55 points or 0.97 per cent to 21,717.95.

Global oil benchmark Brent crude climbed 0.04 per cent to USD 81.66 a barrel. PTI SUM MR