Key indices drift higher on macro optimism

• During the day, Sensex jumped 454.29 pts or 0.70% to 64,535.19
• NSE Nifty went up by 97.35 pts or 0.51 per cent to 19,230.60
• FIIs offloaded equities worth Rs12.43 cr
• Ongoing Q2 results keep up the
• Hopes on no rate hike by US Fed boosted mkt sentiment

Mumbai: Equity benchmark indices Sensex and Nifty sustained their upward movement for the 2nd straight day and ended with gains on Friday in line with positive trends in global markets. Extending its previous day’s rally, the 30-share BSE Sensex climbed 282.88 points or 0.44 per cent to settle at 64,363.78. During the day, it jumped 454.29 points or 0.70 per cent to 64,535.19. The Nifty went up by 97.35 points or 0.51 per cent to close at 19,230.60.

“The optimism is buoyed by firm global clues, steady macroeconomic data and strong domestic corporate earnings. Clues that Fed is unlikely to hike rates in the future and modest decline in oil prices are adding to the optimism,” said Vinod Nair, head (research) at Geojit Financial Services.

In the broader market, the BSE smallcap gauge jumped 0.94 per cent while the midcap index climbed 0.71 per cent. All the indices ended in the green, with realty rallying 2.64 per cent, services jumped 1.60 per cent, consumer durables (1.44 per cent), consumer discretionary (1.15 per cent), oil & gas (0.94 per cent), bankex (0.68 per cent) and energy (0.73 per cent). Overall during the week, the BSE benchmark jumped 580.98 points or 0.91 per cent while the Nifty climbed 183.35 points or 0.96 per cent.

Foreign Institutional Investors (FIIs) continued to be net sellers in the capital markets and sold equities worth Rs 12.43 crore on Friday, according to exchange data.