Stock markets end higher for 2nd day; metal stocks soar, Tata Steel soars over 3%

Mumbai: Benchmark indices Sensex and Nifty ended higher for the second day in a row on Friday, propelled by buying in metal stocks and a rally in global markets.

The 30-share BSE Sensex climbed 223.86 points, or 0.28 per cent, to settle at 81,207.17. During the day, the index hit a high of 81,251.99 and a low of 80,649.57, gyrating 602.42 points.

The 50-share NSE Nifty edged higher by 57.95 points, or 0.23 per cent, to 24,894.25.

From the Sensex firms, Tata Steel climbed the most by 3.40 per cent, followed by Power Grid, Axis Bank, Kotak Mahindra Bank, Larsen & Toubro, Bharat Electronics and Bharti Airtel.

In contrast, Tech Mahindra, Maruti, UltraTech Cement and Bajaj Finserv were among the major laggards.

The BSE metal index jumped 1.85 per cent, with companies, such as Lloyds Metals and Energy surging 6.18 per cent, National Aluminium Company (3.10 per cent), and Jindal Stainless (2.87 per cent).

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,605.20 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 2,916.14 crore, according to exchange data.

In Asian markets, Japan's Nikkei 225 index settled sharply higher, while Hong Kong's Hang Seng index ended lower. The stock market in China and South Korea's Kospi were closed for a public holiday.

Equity markets in Europe were trading higher in mid-session deals.

US markets ended in green on Thursday.

Global oil benchmark Brent crude climbed 0.86 per cent to USD 64.61 a barrel.

Equity markets were closed on Thursday for Mahatma Gandhi Jayanti and Dussehra.

On Wednesday, the Sensex jumped 715.69 points, or 0.89 per cent, to settle at 80,983.31, and the Nifty climbed 225.20 points, or 0.92 per cent, to 24,836.30.