<p>Rising for the fifth straight session, equity benchmark Sensex rallied 553 points on Friday, tracking gains in index-heavyweights Reliance Industries and HDFC twins amid massive foreign fund inflow.</p>.<p>The 30-share BSE index ended 552.90 points or 1.34 per cent higher at 41,893.06.</p>.<p>Similarly, the broader NSE Nifty surged 143.25 points or 1.18 per cent to 12,263.55.</p>.<p>Reliance Industries was the top gainer in the Sensex pack, surging over 3 per cent, followed by Bajaj Finserv, IndusInd Bank, HDFC twins and Kotak Bank.</p>.<p>On the other hand, Maruti, Bharti Airtel, Asian Paints, UltraTech Cement and Nestle India were among the laggards.</p>.<p>According to Hemant Kanawala, Head – Equity, Kotak Mahindra Life Insurance, Indian markets rallied in sync with its global peers, putting to the backburner the uncertainties in the US presidential election. They delivered a broad-based performance, with both Nifty and Nifty midcap indices returning 1.5 per cent over the last week.</p>.<p>Global markets have looked beyond the close finish in the US elections and are gearing up and reacting to a win for the democrats, he said, adding that a Democrat-led dispensation with a less restrictive trade policy, benign immigration policies will be a key positive for emerging markets, including India.</p>.<p>"We believe, collectively, these global factors will propel the markets to pre-Covid levels over the coming days," he noted.</p>.<p>Further, the US Federal Reserve said its key interest rate will be left at a record low, near zero. It reaffirmed its readiness to do more to support the economy under threat from a worsening coronavirus pandemic.</p>.<p>Elsewhere in Asia, bourses in Shanghai ended in the red, while Hong Kong, Seoul and Tokyo closed with gains.</p>.<p>Stock exchanges in Europe were trading on a negative note in early deals.</p>.<p>Meanwhile, international oil benchmark Brent crude was trading 1.93 per cent lower at USD 40.14 per barrel.</p>.<p>Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 5,368.31 crore on Thursday, according to provisional exchange data.</p>.<p>In the forex market, the rupee settled 28 paise higher at 74.08 against the US dollar.</p>
<p>Rising for the fifth straight session, equity benchmark Sensex rallied 553 points on Friday, tracking gains in index-heavyweights Reliance Industries and HDFC twins amid massive foreign fund inflow.</p>.<p>The 30-share BSE index ended 552.90 points or 1.34 per cent higher at 41,893.06.</p>.<p>Similarly, the broader NSE Nifty surged 143.25 points or 1.18 per cent to 12,263.55.</p>.<p>Reliance Industries was the top gainer in the Sensex pack, surging over 3 per cent, followed by Bajaj Finserv, IndusInd Bank, HDFC twins and Kotak Bank.</p>.<p>On the other hand, Maruti, Bharti Airtel, Asian Paints, UltraTech Cement and Nestle India were among the laggards.</p>.<p>According to Hemant Kanawala, Head – Equity, Kotak Mahindra Life Insurance, Indian markets rallied in sync with its global peers, putting to the backburner the uncertainties in the US presidential election. They delivered a broad-based performance, with both Nifty and Nifty midcap indices returning 1.5 per cent over the last week.</p>.<p>Global markets have looked beyond the close finish in the US elections and are gearing up and reacting to a win for the democrats, he said, adding that a Democrat-led dispensation with a less restrictive trade policy, benign immigration policies will be a key positive for emerging markets, including India.</p>.<p>"We believe, collectively, these global factors will propel the markets to pre-Covid levels over the coming days," he noted.</p>.<p>Further, the US Federal Reserve said its key interest rate will be left at a record low, near zero. It reaffirmed its readiness to do more to support the economy under threat from a worsening coronavirus pandemic.</p>.<p>Elsewhere in Asia, bourses in Shanghai ended in the red, while Hong Kong, Seoul and Tokyo closed with gains.</p>.<p>Stock exchanges in Europe were trading on a negative note in early deals.</p>.<p>Meanwhile, international oil benchmark Brent crude was trading 1.93 per cent lower at USD 40.14 per barrel.</p>.<p>Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 5,368.31 crore on Thursday, according to provisional exchange data.</p>.<p>In the forex market, the rupee settled 28 paise higher at 74.08 against the US dollar.</p>