GAIL, the top percentage gainer on the NSE index, jumped more than 6 per cent.Snapping two-day losing streak, domestic stock markets closed Friday's session on a positive note.
The SP BSE Sensex surged 385.84 points, or 1.10 per cent, to close at 35,423.48.
The NSE's Nifty50 index rose 125.20 points or 1.18 per cent and settled at 10,714.30.
Domestic equity indices bounced back on Friday on strong foothold led by energy and financial stocks.
July derivatives contracts started on a strong note amid recovery in the Indian rupee from its record closing low of 68.79 on Thursday against the US dollar.The top gainers on the Sensex pack were Tata Steel, Adani Ports, Yes Bank, Reliance, ONGC and Larsen Tourbo, rising between 2.64 per cent to 3.46 per cent.
Whereas HeroMotoCorp, Mahindra Mahindra, Induslnd Bank, HDFC Bank, Asian Paints and Sun Pharma were the major losers, ending with losses between 0.35 per cent to 1.45 per cent.On the NSE, GAIL, Titan, Hindalco, Bajaj Auto and Tata Steel were leading the pack, rising between 3.38per cent to 6.48 per cent while Dr Reddy's, Tech Mahindra, Induslnd Bank, HeroMotoCorp and Mahindra Mahindra lost the most,ending with losses between 1.23per cent to 2.73per cent.Energy stocks led the gains on the indexes, with oil-to-telecom conglomerate Reliance Industries Ltd rising as much as 3 per cent on BSE Sensex.
Beaten-down counters such as state-run lenders recovered with the Nifty PSU Bank index gaining over 2.5 per cent.A weaker rupee coupled with a shift in sectoral funds have helped the pharma and information technology stocks shrug off the weakness in the broader markets in June.GAIL, the top percentage gainer on the NSE index, jumped more than 6 per cent.
Shares of Tata Steel Ltd rose around 4 per cent on both indexes after key labour representatives of Thyssenkrupp on Thursday signalled their support for a planned joint venture with the Tata Group-owned steelmaker.However, on weekly basis, both the benchmarks ended lower reversing five straight weeks of gains.
The Sensex registered a fall of 266.12 points, or 0.75 per cent, while the Nifty shed 107.55 points, or 0.99 per cent during the period.
Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 442.64 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 951.51 crore on Thursday, as per provisional data.(With Agencies inputs)