Indian shares closed higher on Friday, snapping a two-day losing streak, led by technology stocks such as Infosys on a weaker rupee, while the broader sentiment was tepid as investors kept away from risky bets ahead of the year-end holidays.

Volumes remained low as investor interest was subdued despite Friday being the first trading day for the new monthly derivatives contract, traders said.

After gaining nearly 103 points in early trade, the BSE benchmark Sensex ended up by 33.17 points or 0.12 per cent at 27,241.78.

Similarly, the NSE index Nifty, after moving up by nearly 45 points, ended up by 26.6 points or 0.33 per cent at 8,200.70.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 2,808.27 crore on Wednesday, as per provisional data available with stock exchanges.

Among BSE sectoral indices, FMCG index fell the most by 0.81 per cent, followed by consumer durables 0.5 per cent and power 0.16 per cent, while realty index was up 0.93 per cent, IT 0.85 per cent, TECk 0.66 per cent and India infrastructure index 0.64 per cent.

Technology shares gained. Infosys closed up 1.1 per cent, while Tata Consultancy Services ended 1 per cent higher.

Major Sensex gainers were HDFC 1.18%, SSLT 1.00%, TCS 0.98%, Infosys 0.84% and Hindalco 0.83%, while the top five losers were Maruti 1.31%, BHEL 1.26%, ITC 1.14%, HUL 0.77% and ICICI Bank 0.61%.

Snapping its two-session losing streak, the benchmark BSE Sensex recovered over 102 points to 27,311 in early trade as the January series in derivatives segment commenced on fresh buying by participants.

Early trade

The 30-share index, which had lost 493.18 points in the previous two sessions, rose 102.83 points or 0.38 per cent to trade at 27,311.44 with power, capital goods, infrastructure, banking and metal sector stocks leading the rise.

Similarly, the National Stock Exchange index Nifty surged 44.85 points or 0.55 per cent to 8,218.95.

Brokers' comment

Brokers said fresh positions built up by participants, following the beginning of January series in the derivatives segment and value-based buying in select counters, helped the trading sentiment to improve.

However, buyers preferred to keep their commitments restricted due to absence of global cues in view of closure of most of the markets on account of 'Christmas', they added.

Asian markets

Asian shares extended a weekly gain while the yen fell against the dollar as slowing inflation in Japan boosted hopes that the central bank will introduce more stimulus to revive the economy. Gold and silver climbed with oil.

Markets in Australia, Hong Kong, Indonesia, New Zealand, and the Philippines are shut for the Christmas holidays.

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