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NEW DELHI: Gains in banking, other financials, FMCG stocks and select auto heavyweights helped equity benchmarks Sensex and Nifty log gains on Friday even as the rupee declined and crude oil prices jumped 1 per cent.
After trading lacklustre for the first half of the session, the equity indices built on the gains in the second half even as investors turned focus on March quarter earnings of Infosys and TCS.
Both beat Street estimates later in the day.
"The market turned positive despite a weak rupee as investors remained focused on earnings.
Banks outperformed as CPI inflation data due later in the day is expected to be under RBI’s target and is likely help credit growth,” said Vinod Nair, Head Research, Geojit Financial Services.
Sensex settled 160 points, or 0.41 per cent, higher at 38,767 while Nifty50 closed 47 points, or 0.40 per cent, up at 11,643.
Let's take a look at the key movers and shakers of Friday's trade:
DHFL shares decline 3%Shares of Dewan Housing Finance Corporation (DHFL) fell over 3.21 per cent to Rs 167.10 after rating agency Brickwork Ratings India downgraded its secured NCDs and subordinated debt instruments.
An ETNow report suggested US-based large private equity (PE) player Lone Star Funds is eyeing a stake in the company.
TCS loses steam ahead of Q4 nosShares of Tata Consultancy Services closed 0.26 per cent down at Rs 2,013 ahead of March quarter earnings.
Post market hours, the company reported a 17.70 per cent YoY jump in quarterly profit at Rs 8,126 crore, which was better than a Rs 7,981 crore estimate that analysts had made in an ET NOW poll.
Infosys gains ahead of Q4Shares of the IT bellwether closed with a nominal gain of 0.63 per cent at Rs 747.85 ahead of March quarter numbers.
Post market hours, the company reported a 10.51 per cent year-on-year (YoY) rise in consolidated profit at Rs 4,078 crore, beating a Rs 3,957 crore profit projection that analysts had made in an ET NOW poll.
Thermax shares end in the redThe engineering firm announced buying out its joint venture partners in Thermax SPX Energy Technologies.
But the announcement failed to cheer investors and the stock closed 0.21 per cent lower at Rs 983.10.
Vedanta shares gainLondon-headquartered Vedanta Resources raised $1 billion through a bond issue and said it would use the money to pare debt.
Shares of Vedanta closed 1.43 per cent higher at Rs 183.90, breaking a losing streak of past two sessions.
SpiceJet shares surge 9%Shares of SpiceJet closed 8.54 per cent higher at Rs 109.90 after the airline announced induction of new aircraft in its fleet.
As per a BSE filing, the company will induct 16 Boeing 737-800 NG aircraft on dry lease in the next 10 days after regulatory approvals.
Prabhat Dairy jumps 5%Shares of Prabhat Dairy jumped 4.99 per cent to Rs 82.05 after it said it successfully completed the sale of its subsidiary Sunfresh Agro Industries to Tirumala Milk Products.
Investors richer by Rs 63k croreFriday's gains made investors richer by Rs 63,733 crore as the overall market capitalisation of BSE-listed firms jumped to Rs 1,52,14,642 crore from Rs 1,51,50,908 crore on Thursday.
Bearish signal on 92 countersMomentum indicator moving average convergence divergence, or MACD, showed bearish crossovers on 92 counters on BSE, indicating that these stocks may slide in the coming sessions.
Among the stocks were Bharti Airtel, Welspun Corp, Andhra Bank, Avenue Supermarts, Cadila Healthcare and LT Infotech.
On the other hand, 89 stocks, including SpiceJet, BHEL, Adani Power, TV18 Broadcast and Exide Industries, signalled bullish crossovers.
