Representative image of BSE.
Credit: PTI File Photo
Mumbai: Benchmark Sensex rose by nearly 329 points on Friday on strong gains in pharmaceutical and banking shares and foreign fund inflows.
The 30-share BSE Sensex jumped 328.72 points or 0.40 per cent to close at 82,500.82. During the day, it appreciated by 482.01 points or 0.58 per cent to hit an intraday high of 82,654.11.
The 50-share NSE Nifty advanced by 103.55 points or 0.41 per cent to settle at 25,285.35. In the intraday session, it rose 148.95 points or 0.59 per cent to hit a high of 25,330.75.
Among the Sensex firms, State Bank of India, Maruti Suzuki India, Axis Bank, NTPC, BEL, Adani Ports, Eternal, Sun Pharmaceuticals, Power Grid, ITC, UltraTech Cement, Trent, HCL Technologies, Mahindra & Mahindra, and HDFC Bank were the major gainers.
On the other hand, Tata Steel, Tata Consultancy Services, Tech Mahindra, Titan, Bajaj Finserv, Tata Motors, Bharti Airtel and Bajaj Finance were among the laggards.
"Indian equities closed higher, led by strong gains in banking and pharmaceutical stocks. Investor sentiment improved after the government invited private sector professionals to lead State Bank of India," Vinod Nair, Head of Research, Geojit Investments said.
Pharma stocks rallied as the US revived the Biosecure Act, aiming to cut biotech ties with flagged foreign firms, especially from China, providing a strong boost to Indian CDMOs, Nair added.
In Asian markets, Hong Kong's Hang Seng index, Tokyo's Nikkei 225 index, and Shanghai's SSE Composite index ended lower while Seoul's Kospi closed in the green territory. Equity markets in Europe were trading on a mixed note.
The US markets retreated from their record highs and closed lower on Thursday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,308.16 crore on Thursday, according to exchange data.
Global oil benchmark Brent crude dipped 0.63 per cent to USD 64.81 a barrel.
On Thursday, the 30-share BSE Sensex climbed 398.44 points to settle at 82,172.10. The 50-share NSE Nifty jumped by 135.65 points to close at 25,181.80.