Indian markets continued their winning streak for the second consecutive day and closed in the green on Friday.

The BSE Sensex closed at 19,496 up 85 points (0.44 per cent) from its previous close and the NSE Nifty closed at 5,868 up31 points (0.53 per cent) from its previous close.

Except IT and tech all sectoral indices closed in the green on the BSE led by oil and gas, FMCG and tech sectors which rallied the most.

Dipen Shah, Head of Private Client Group Research, Kotak Securities said: “Friday was a relatively quiet day for the markets. Markets across the world were subdued ahead of the important non-farm payrolls data in US. This data is important as the Fed may closely watch this data while arriving at any decision on the continuing monetary easing program. The week was marked by volatility for the Indian markets as they reacted to unforeseen events in Portugal, Greece and Egypt on the one hand and the volatile rupee, on the other. The Government’s decision to almost double the gas prices also had a positive impact on the markets."

"Quarterly results will start trickling in next week and will influence individual stocks. The Government has announced important reforms initiatives and further such initiatives will provide support to the markets, going ahead," he added.

On the NSE, IDFC, JP Associates, Jindal Steel, NMDC and Asian Paints were the top gainers while GAIL, Airtel, Lupin, ICICI Bank and M&M were the top losers.

(This article was published on July 5, 2013)
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