Sensex, Nifty end higher as IT stocks gain
The Indian stock markets ended in the green on Friday but gave up part of their gains in the final hour as rising tensions between Iran and Israel pushed oil prices higher and dampened investor sentiment.
The benchmark indices Nifty and Sensex settled off their day’s highs after reports of fresh strikes between Iran and Israel triggered concerns over global energy supplies.
The Nifty closed 112.35 points, or 0.49 per cent, higher at 23,114.50, while the Sensex gained 325.72 points, or 0.44 per cent, to end at 74,532.96.
Broader markets also saw profit booking towards the close. The Nifty MidCap ended 0.67 per cent higher, while the Nifty SmallCap rose marginally by 0.09 per cent, after giving up part of their intra-day gains.
On the sectoral front, realty stocks were among the worst performers, with the Nifty Realty declining around 1 per cent.
The Nifty Financial Services and Nifty Media also lagged the broader market.
In contrast, defensive and rate-sensitive sectors showed strength. The Nifty Pharma and Nifty PSU Bank emerged as the top gainers during the session. The Nifty IT end the intra-day session with a gain of 2.17 per cent.
Meanwhile, global crude oil benchmark Brent rose in the latter half of the trading day, as supply concerns intensified due to the ongoing conflict in the Middle East.
(IANS)
