Stock markets squandered early gains but managed to end in
the green on Friday, propped up by heavyweight Reliance Industries which
announced another stake sale deal for its digital platform.

IMAGE: Share-brokers monitor the stock markets from
their office in Mumbai. Photograph: Niharika Kulkarni / ANI Photo.
A strengthening rupee and
firm global cues also supported the domestic bourses, traders said.
After rallying 645.13
points during the day, the 30-share BSE Sensex finally settled 199.32 points or
0.63 per cent higher at 31,642.70.
Similarly,
the broader NSE Nifty rose 52.45 points, or 0.57 per cent, to finish at
9,251.50.
Reliance Industries was the biggest contributor to the
gains on the benchmarks, jumping over 3 per cent after the company announced
the sale of 2.32 per cent stake in Jio Platforms to US-based Vista Equity
Partners for Rs 11,367 crore, the third such deal in a little over two
weeks.

In absolute terms, Hindustan Unilever was the top gainer in
the Sensex pack, rallying 4.81 per cent, followed by Nestle India, Tech
Mahindra and Sun Pharma.
On the other hand, M&M, Axis Bank, NTPC and IndusInd Bank
were among the major laggards, shedding up to 3.87 per cent.

During the week, the Sensex
plunged 2,074.92 points or 6.15 per cent, and the Nifty tanked 608.40 points or
6.17 per cent.
"Nifty fluctuated
around 150 points in another day of volatile trades, tracking uncertainty in
the markets. Gains were led by Reliance, which succeeded in another round of
fundraising even in this adverse scenario.
"Global market trends
were also positive following attempts to defuse tensions around the US-China
trade talks. While the earnings season has been lacklustre, markets seem to be
awaiting announcement of a stimulus package from the government," said
Vinod Nair, head of research at Geojit Financial Services.
BSE’s energy, FMCG,
healthcare, teck and IT indices rallied up to 2.59 per cent, while power,
utilities, consumer durables, auto and metals closed with losses.
The broader BSE midcap
index rose 0.04 per cent, while the smallcap gauge slipped 0.45 per cent.
Foreign portfolio investors
purchased equities worth a net Rs 19,056.49 crore in the capital market in the
previous session, provisional exchange data showed.
Global markets advanced as
US and China discussed the first phase of a trade deal on Friday, while
investors also welcomed moves by various countries to ease lockdown measures
and resume economic activities.
Bourses in Shanghai, Hong
Kong, Tokyo and Seoul ended with substantial gains. Top stock exchanges in
Europe were also trading on a positive note in their opening sessions.
Meanwhile, international
oil benchmark Brent crude futures climbed 1.73 per cent to USD 29.97 per
barrel.
On the currency front, the
rupee appreciated 18 paise to provisionally settle at 75.54 against the US
dollar.
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