Equity indices close over 2 pc higher, IT and auto stocks lead

Equity benchmark indices closed over 2 per cent higher on Friday on the back of across-the-board gains while Asian markets rose on hopes of a US stimulus package.

Equity benchmark indices closed over 2 per cent higher on Friday on the back of across-the-board gains while Asian markets rose on hopes of a US stimulus package. The BSE S&P Sensex was up by 835 points or 2.28 per cent at 37,389 while the Nifty 50 gained by 245 points or 2.26 per cent at 11,050.

All sectoral indices at the National Stock Exchange were in the green with Nifty IT ticking up by 3.4 per cent, auto by 3.3 per cent and FMCG by 2 per cent. Among stocks, HCL Technologies moved up by 5.3 per cent to Rs 830.10 per share while Tata Consultancy Services advanced by 3.6 per cent to close at Rs 2,417.75.

Bajaj Finserv was up by 6.6 per cent, Cipla by 5.1 per cent, Bharti Airtel by 4.9 per cent, Adani Ports by 4 per cent and Eicher Motors by 3.9 per cent. Vakrangee share price surged by nearly 10 per cent to Rs 27.10 per unit after the non-banking company was granted in-principle authorisation to set-up and operate the Bharat Bill payment operating unit from the Reserve Bank of India.

However, those which lost marginally were SBI Life, Bharat Petroleum Corporation, and UPL. Meanwhile, Asian shares rose after robust US housing data supported a late tech-driven rally on Wall Street.

Investor sentiment got a boost after reports that Democrats in the US House of Representatives are working on a 2.2 trillion dollar coronavirus stimulus package that could be voted on next week. South Korean shares were 0.27 per cent higher while Japan's Nikkei added 0.51 per cent. But Hong Kong's Hang Seng fell by 0.47 per cent. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)