Domestic stock markets jumped on Friday tracking a firm trend in global peers. The S&P BSE Sensex index jumped as much as 363.58 points to touch 40,650.06 on the upside during the session, and the broader NSE Nifty benchmark climbed to as high as 11,973.65, up 101.55 points from the previous close. Gains in banking and metal stocks supported the upmove, however losses in automobile, IT and energy shares limited the upside. The markets lost most of the day’s gains at the end of the session.
The Sensex ended 70.21 points – or 0.17 per cent – higher at 40,356.69 and the Nifty settled up 23.20 points – or 0.20 per cent – at 11,895.30.
Top percentage gainers on the 50-scrip index were Bharti Infratel, Bharti Airtel, SBI, Zee Entertainment and Grasim, ending between 3.05 per cent and 9.71 per cent higher.
Telecom stocks spiked on hopes that the government would step in to help the ailing sector, say analysts. The surge in the sector came a day after two top mobile carriers warned their ability to operate and make profits would depend on relief from the country.
Bharti Airtel ended 9.58 per cent higher, whereas Vodafone Idea finished the session with a gain of 26.10 per cent.