Sensex rises 354 points to close at 39,467; Nifty eyes 11,650 – Times of India

NEW DELHI: Equity indices finished higher for the sixth consecutive session on Friday with the benchmark BSE sensex rising over 350 points led by gains in banking and financial stocks.
The 30-share BSE index surged 354 points or 0.90 per cent to close at 39,467; while the broader NSE Nifty settled 96 points or 0.83 per cent higher at 11,655.
Top gainers in the sensex pack included IndusInd Bank, Axis Bank, SBI, ICICI Bank, Sun Pharma and Kotak Bank with their shares rising as much as 8.43 per cent.
While Power Grid, Infosys, Maruti, NTPC, Asian Paints and Hindustan Unilever were the major losers, falling up to 1.24 per cent.
On the NSE platform, sub-indices Nifty Bank, PSU Bank, Private Bank and financial services gained up to 5.17 per cent.
According to traders, positive cues from Asian equity benchmarks and sustained foreign fund inflow lifted benchmarks in early trade.
Stock exchanges on Wall Street ended on a mixed note in overnight session after US Federal Reserve chief Jerome Powell said the central bank will remain accommodative and shift to a more relaxed approach on inflation.
“It appears the Fed is not in a hurry to raise rates even on small indications of a rise in inflation,” said Deepak Jasani, head of retail research at HDFC Securities told news agency Reuters.
“Businesses and consumers like low interest rates and they generally boost asset prices across the board,” he added.
Meanwhile, the rupee rose to its highest level in nearly six months, gaining for a third straight session to end at 73.39 (provisional) against the US dollar.
(With agency inputs)