Strong buying in pharma, banking and other stocks boost Indian benchmark indices on Friday
The BSE Sensex went up 278.54 points or 1 percent to reach 24616.97. The NSE Nifty went up 85.10 points or 1.1 percent to 7489.10.
Some of the top gainers are Lupin, Axis Bank, State Bank of India, HDFC Bank, Punjab National Bank, Bank of Baroda, Tata Steel, Cipla and Dr Reddy's Labs while losers include GAIL, Maruti, Adani Ports, NTPC and Wipro.
Mumbai-based pharma company Lupin beat analysts' expectations with better-than-expected December quarter numbers though its consolidated net profit of Rs 530 crore in the December quarter was lower than the year-ago quarter's numbers.
Among the banking stocks, shares of ICICI Bank was up 3.2 per cent at its day's highest level.
According to media reports, India has received $4.5 billion foreign direct investment (FDI) in December 2015, which is 114 per cent more than what India received in December 2014.
The sectors which attracted maximum FDI were computer software and hardware, trading, services, automobile and telecommunications.
The maximum FDI came from Singapore, Mauritius, the Netherlands and Japan.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
