Sensex Ends 33 Points Higher, Nifty Reclaims 10,800: 10 Things To Know

NDTV Profit Team

14 Dec 2018, 03:46 PM IST

Share markets on Friday: Twenty nine out of the 50 stocks on the Nifty closed in the green.

FMCG, information technology and public sector banking stocks led the gains, however losses in finance and pharma offset limited the upside.
Twenty nine out of the 50 stocks on the Nifty closed in the green. Major advancers on the 50-scrip index were Bharti Airtel (+5.25 per cent), BPCL (+3.00 per cent), Yes Bank (+2.86 per cent), IOC (+2.84 per cent) and Coal India (+2.25 per cent).
On the BSE, the prominent gainers were Bharti Airtel (+5.32 per cent), Yes Bank (+3.23 per cent), ONGC (+2.58 per cent), NTPC (+1.95 per cent), Infosys (+1.31 per cent) and Asian Paints (+1.13 per cent).
The Reserve Bank of India's board deliberated on the central bank's governance framework and has decided that the matter required further examination, the central bank said in a statement after the meeting concluded.
Friday's board meet marked the first chaired by the newly-appointed governor Shaktikanta Das, who took over on Wednesday.
Wholesale inflation cooled off to 4.64 per cent in November from 5.28 per cent in the previous month, provisional data from the Ministry of Commerce and Industry showed on Friday. The rate of increase in wholesale prices is determined by the Wholesale Price Index (WPI).
Analysts say short-covering pushed the markets amid choppy trade. "Subdued sentiment due to RBI Governor Urjit Patel's resignation and overhang of state election results prevailed at market opening... However, the negative trend was short lived as short covering was witnessed during the day leading to markets turning positive," said Viral Berawala, CIO, Essel Mutual Fund.
Bharti Airtel's shares rose after a tribunal dismissed the telecom regulatory authority's order on predatory pricing. Shares of its larger rival Vodafone Idea closed 3.58 per cent higher.
Indian Oil Corp shares gained approval of a buyback worth up to Rs 4,435 crore by the the country's largest fuel retailer.
Fund inflows by institutional investors also supported the markets. Net purchase of equities by foreign portfolio investors (FPIs) stood at Rs 675.14 crore on Thursday, while net sale by domestic institutional investors (DIIs) was at Rs 51.86 crore, according to provisional data from the BSE. (With inputs from agencies)