Sensex closed Friday's session rising 355 points to 57,990 and Nifty 50 closed at rising 114 points to 17,100.

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Among sectoral indices Nifty Metal gained the most and closed over 2.3 percent. Midcap Index gained 95 points to 30,092.

China's decision to cut the RRR by 25 basis points lifted the metal pack, with the Nifty Metal index gaining 2 percent. However, TCS closed with minor cuts as its MD and CEO, Rajesh Gopinathan, resigned. Cyient and LTIMIndtree both gained 2 percent each following an upgrade from Morgan Stanley. Biocon closed with sharp cuts following block deals worth Rs. 600 crores.

Among the top gainers on the Nifty 50 were HCL Technologies, Hindalco Industries, UPL, UltraTech Cement, and Nestle India, while top losers included Eicher Motors, NTPC, Maruti Suzuki, ITC, and Asian Paints.

All sectoral indices except for auto and FMCG finished in the green. Autos stocks remained under pressure on subdued demand with Eicher Motors and Maruti Suzuki being the top laggards in the sector.

Realty stocks gained on rising demand, DLF shares closed over 4 percent on high demand for luxurious projects.

HDFC and HDFC Bank led the gainers after receiving NCLT approval for their merger, with both stocks surging 2 percent each. Adani Group stocks also had a good day, with eight of nine stocks closing higher and the group gaining a market cap of Rs. 17,000 crores.

Defence stocks like HAL and Bharat Forge gained on government nod for Rs 70,000 crore proposals.

Overall, it was a positive day for the stock market, with BSE companies gaining a market cap of Rs. 1.70 lakh crores for the second straight day.

Also read: Stock Market Highlights: Sensex, Nifty 50 end higher led by HDFC Twins, IT stocks, but post weekly loss

(Edited by : Pradeep John)

First Published:Mar 17, 2023 4:06 PM IST