Sensex snaps 4-day losing streak, ends 166 pts higher

Snapping its four-session losing run, equity benchmark Sensex jumped 166 points on Friday, led by gains in index majors Reliance Industries, ICICI Bank and HDFC.

After trading in a range through the day, the 30-share BSE index ended 166.07 points or 0.32 per cent higher at 52,484.67. Similarly, the broader NSE Nifty advanced 42.20 points or 0.27 per cent up at 15,722.20.

Reliance Industries was the top gainer in the Sensex pack, rising over 1 per cent, followed by ICICI Bank, SBI, HDFC, M&M, Axis Bank, Bajaj Finance, Titan and Infosys.

On the other hand, Tata Steel, PowerGrid, Asian Paints, Sun Pharma and Bajaj Auto were among the laggards.

“Domestic equities continued to trade in a rangebound with benchmark indices witnessing marginal gains,” said Binod Modi, Head – Strategy at Reliance Securities.

While financials, pharma and realty indices recovered modestly, profit-booking was visible across metals and FMCG counters, he said, adding that midcap and smallcap indices continued to outperform as improved earnings visibility attracted investors towards this space.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul closed in the red, Tokyo ended with gains.

Equities in Europe were trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude was quoting marginally lower at USD 75.79 per barrel.

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