Sensex closes 145 points higher, Nifty above 11,000 as PM Modi to face no-confidence motion
Domestic bourses recovered after falling for two straight sessions in on Friday, with the benchmark BSE Sensex ending over 145 points higher, driven by buying amid the no-confidence debate in Lok Sabha.
The BSE Sensex which had lost 168.73 points in the previous two sessions, ended 145.14 points or 0.40% higher at 36,496.37, while the broader NSE Nifty settled the day 0.48% or 53.10 points higher at 11,010.20.
Sectoral indices led by IT, teck, healthcare and telecom stocks helped the recovery, rising by up to 1.51%.
Major gainers in the Sensex pack were Sun Pharma, Infosys, Reliance Industries, ICICI Bank, Axis Bank, L&T and IndusInd Bank rising up to 2.72%.
Meanwhile, DIIs bought shares worth a net of Rs 470.02 crore on Thursday, while foreign portfolio investors (FPIs) sold shares to the tune of Rs 315.69 crore, as per stock exchanges’ data.
Brokers said, expectations of the Modi government winning the first no-confidence motion it’s facing in four years in the Lok Sabha boosted investor sentiment.
Meanwhile, following yuan’s fall, the rupee plunged to record low of 69.12 (intra-day) against the dollar at the forex market on Friday. The domestic currency, however, recovered partially later in the day.
The US Dow Jones Industrial Average ended 0.53% down on Thursday.