Sensex and Nifty, were trading with gains of over half % in the afternoon session on Friday Sensex started the day sharply higher at 59,050.67 points and surged to a high of 59,321.65 points in the early morning trade. Top Gainers: Tata steel, Tech Mahindra, Power Grid Corporation, Mahindra and Mahindra, L&T, SBI, and Infosys.
Sensex gains over 110 points whereas Nifty reaches 17,423.20 after gaining 25.70 points in opening trade on Monday. Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 1,605.81 crore on Friday, as per exchange data. Mahindra & Mahindra was the biggest gainer from the Sensex pack, rising more than 2 %, followed by IndusInd Bank, NTPC, Reliance Industries, HDFC Bank, and Maruti.
Equity market bounce back modestly after RBI raised key interest rate. The Reserve Bank increased the interest rate by 50 basis points to 5.40%, third straight since May. Among the Sensex constituents, UltraTech Cement, ICICI Bank, Bharti Airtel, Power Grid, Infosys, Wipro, and Axis Bank were the major gainers.