Sensex, Nifty end marginally higher; RIL shines post Q3 show

Markets closed marginally higher on Friday after a volatile session as investors largely stuck to index heavyweights despite positive global cues.The BSE Sensex settled 12.53 points, or 0.03 per cent, higher at 36,386.61. The broader NSE Nifty inched up 1.75 points, or 0.02 per cent, to 10,906.95.During the week, the 30-share Sensex gained 378.77 points, or 1 per cent and the Nifty rose 112 points, or 1.02 per cent.

Reliance Industries was the biggest gainer on Sensex in Friday's session, spurting 4.43 per cent, after the company became the first Indian private sector company to report a quarterly profit of more than Rs 10,000 crore following record earnings from petrochemical, retail and telecom businesses.Other gainers included Kotak Bank, HCL Tech, ONGC, Asian Paints, Vedanta, HDFC Bank, Bajaj Finance, Maruti and TCS, gaining up to 1.41 per cent.Sun Pharma was the top loser, cracking 8.58 per cent, on reports of fresh allegations by a whistleblower against the company.

Bharti Airtel, L&T, Axis Bank, Yes Bank, ITC, Tata Motors and PowerGrid also fell up to 6.42 per cent."Domestic indices failed to absorb the rebound in global market as plunge in pharma stocks and weak rupee dragged the sentiment," said Vinod Nair, Head of Research, Geojit Financial Services."Global headwinds continue to dictate a range-bound movement in the market while any green shoots in quarter earnings provide opportunity to accumulate," he added.On a net basis, foreign portfolio investors (FPIs) purchased shares worth Rs 842.13 crore on Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 727.46 crore, provisional data available with BSE showed.

According to analysts, global trade tensions and risk of recession will cast a cloud over the sentiment, while lack of major triggers in the domestic market could see range-bound movement in the near term.The rupee, meanwhile, depreciated 10 paise against the US dollar to 71.13 intra-day.The benchmark Brent crude futures rose 0.98 per cent to USD 61.78 per barrel.Elsewhere in Asia, Shanghai Composite Index jumped 1.42 per cent, Hong Kong's Hang Seng rose 1.25 per cent, Japan's Nikkei gained 1.29 per cent, and Korea's Kospi climbed 0.82 per cent higher.In Europe, London's FTSE rallied 1.03 per cent, Frankfurt's DAX was up 0.97 per cent and Paris CAC 40 surged 1.29 per cent in early deals. 

Good news for six crore EPFO subscribers, interest rates on deposits raised to 8.65%

The government has decided to increase the interest rates on the Employee Provident Fund deposits from existing 8.55 per cent to 8.65 per cent. This i...

Govt announces Rs 48,239 cr recapitalisation plan for 12 public sector banks

In order to help maintain regulatory capital requirements and finance growth plans, the finance ministry on Wednesday announced to pump in Rs 48,239 c...

Twitter strengthens political ads policy ahead of Lok Sabha Polls

Twitter on Tuesday said it would now provide details including ad spends and impressions data of tweets from political entities to users in India as i...

Anil Ambani Held in Contempt, Jail Term if Ericsson Not Paid Dues

The Supreme Court on Wednesday, 20 February, held Reliance Communications Chairperson Anil Ambani and two directors guilty of contempt of court for wi...