BSE Sensex rebounds after three days of losses, up 506 points

Domestic equity markets concluded the week with robust gains on Friday as the key benchmark index BSE Sensex surged 506.28 points, or 1.90 per cent, to 27,105.39. The NSE Nifty index also gained 134.20 points, or 1.67 per cent, to 8,191.50.

Among the BSE sectoral indices, the S&P BSE Realty index rose by 4.06 per cent to 1,589.28, followed by S&P BSE Auto index (up 2.67 per cent to 18,369.63), S&P BSE Bankex index (up 2.23 per cent to 20,389.59), S&P BSE Healthcare index (up 1.76 per cent to 16,225.73), S&P BSE Capital Goods index (up 1.76 per cent to 16,192.78), S&P BSE FMCG index (up 1.59 per cent to 7,750.07).

On the other hand, the S&P BSE Consumer Durables ended the day 1.6 per cent down at 9,960.

Ajay Jaiswal, head of research, Microsec Financial Services, says, "Value buying, softening of crude oil prices and positive global cues and HUL Q4 results supported market sentiments on Friday."

Jayant Manglik, president, retail distribution, Religare Securities, says, "Sentiments got some support with Finance Minister Arun Jaitley announcing a high level committee, which will give its recommendations on the issue of imposition of MAT on foreign investors. Gains in global markets, decline in crude oil prices overnight and rupee's recovery against the dollar after a recent steep slide also aided rebound in domestic bourses."

The market breadth remained strong on the Bombay Stock Exchange as 1,860 stocks ended with gains, while 822 closed with losses.

Among Nifty stocks, Tata Motors, Cipla, ICICI Bank, Hindalco and Yes Bank were the top performing stocks in Nifty with an intraday gain of 5.10 per cent, 4.72 per cent, 4.04 per cent, 3.57 per cent and 3.53 per cent, respectively.

On the other hand, Punjab National Bank, Bank of Baroda, Idea Cellular, Hero MotoCorp and ONGC stood at the bottom of Nifty's performance charts. These stocks declined by 6 per cent, 5.25 per cent, 2.54 per cent, 2.10 per cent and 1.45 per cent, respectively.

According to the website of NSDL, foreign portfolio investors stood net sellers in the capital market, sold shares worth Rs 1,293.33 crore on Friday.

For the quarter ended March 2015, Hindustan Unilever posted net profit of Rs 1,018.08 crore, up 16.73 per cent, against Rs 872.13 crore in the corresponding quarter a year ago.

However, net profit of Punjab National Bank declined 61.98 per cent year-on-year to Rs 306.56 for the quarter ended March 2015.

Den Networks, Bank of Baroda, Havells India, Eveready Industries, Orient Paper, SRF and Usha Martin may announce their earnings on Monday.

Asian peer markets Nikkei 225, Hang Seng and Shanghai were all in green and were up by 0.45 per cent, 1.05 per cent and 2.28 per cent, respectively.