Sensex closes 329 points higher, Nifty at 10,383

Sensex closes 329 points higher, Nifty at 10,383

Sensex

Indian stock market benchmark indices Sensex and Nifty, after having slipped into the red for two consecutive trading sessions, ended with 1% gain each on Friday.

S&P BSE Sensex gained 329 points to sit at 35,171 points, while the 50-stock NSE Nifty ended just a tad bit below the 10,400 mark at 10,383 points.

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The rupee opened with a positive note due to weakness in the dollar and coupled with lifetime increase in Indian FOREX reserves.

However, cut in global growth forecast may curb the sharp appreciation in Indian rupee. For intraday trading, Rupee has strong support at 75.30 levels and resistance at 76.00 levels.

Global markets

Markets showed signs of optimism on Friday, with European shares opening higher and oil prices rising despite a record number of new COVID-19 infections in the United States.

The MSCI world equity index, which tracks shares in 49 countries, was up 0.3%, extending gains from late on Thursday.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 per cent, for a weekly gain of around 0.7 per cent. Japan's Nikkei rose 1.3 per cent to sit 0.4 per cent higher for the week.

(With inputs from agencies)