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Driven by positive global cues, the Nifty and the Sensex spurted up to close significantly higher on Friday.
The Nifty closed 1.54 per cent (or 132.05 points) up at 8,653, while the Sensex ended 1.31 per cent (or 363.98 points) higher at 28,078.
Among the Sensex stocks that sparkled were HeroMoto Corp, Bajaj Auto, Tata Motors, Mahindra & Mahindra, Axis Bank and State Bank of India.
Dipen Shah, Senior V-P & Head Private Client Group Research, Kotak Securities, said: “Markets ended the week on a strong note, buoyed by supportive global cues. European stocks had finished in positive territory yesterday as investors celebrated the Bank of England's latest decision to cut UK’s key interest rate to a record low and to create a new Term Funding Scheme .”
The recent rise in markets has pushed valuations of benchmark indices to the upper end of the long-term valuation band, he said. The triggers to look forward include the corporate results to come and the RBI policy meeting, he added.
Foreign Portfolio Investors bought net equities worth ₹436 crore; Domestic Institutional Investors too bought net equities worth ₹616 crore. Retail investors sold net equities worth ₹47 crore.
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