The Indian benchmark equity indices, Sensex and Nifty ended higher for the fifth straight session on Friday led by heavy buying in banking and financial stocks amid positive global cues.

Share Market Live

NSE

The Sensex ended 552.90 points or 1.34 percent higher at 41,893.06 while the Nifty gained 143.25 points or 1.18 percent to close at 12,263.55. Broader indices, Nifty Smallcap100 and Nifty Midcap100 indices gained 0.5 percent each.

"12,200 was a resistance level for this month's expiry. We have successfully crossed and closed above that. This should push the Nifty to its next level which is 12,400. The macro trend of the index is positive and any dip or correction can be utilized to buy into this market. The Nifty has very good support at 11,500," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

Among sectors, Nifty Private Bank rallied the most over 2 percent followed by Nifty Financial Services, Nifty IT and Nifty Realty while Nifty Pharma and Nifty FMCG ended in the red.

Reliance Industries, Bajaj Finserv, IndusInd Bank, HDFC Bank and Kotak Bank led gains among Nifty50 constituents while Maruti Suzuki, GAIL India, Bharti Airtel, Asian paints and Grasim Industries were the top index losers.

The share price of Reliance Industries ended more than 3 percent higher after Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) said it will invest Rs 9,555 crore, or roughly $1.3 billion, for a 2.04 percent stake in RIL's retail unit Reliance Retail Ventures Limited (RRVL).

Meanwhile, global stocks were little changed but near a record high while the dollar and US bond yields stayed sluggish on Friday on bets that a divided US Congress would hinder government borrowing, which could pave the way for even more central bank stimulus, Reuters reported.

Japan's Nikkei average rose 0.9 percent to a 29-year high while MSCI's broadest gauge of Asian Pacific shares outside Japan rose 0.3 percent, near a three-year high.

First Published:Nov 6, 2020 3:35 PM IST