Equities rise on positive global cues, strong rupee

Bombay Stock Exchange

Analysts said sustained foreign capital inflows and short covering on the last trading session of March series derivatives contracts supported the momentum, traders said.

The broader markets too were in a better shape as investors widened their bets, lifting the BSE small-cap index by 0.95 per cent and mid-cap index by 0.39 per cent.

The key indices closed with gains of close to half a per cent each, as healthy buying was witnessed in banking, capital goods and consumer durables stocks.

Biggest losers in the 30-share index were HDFC Bank (1.37%), ITC (1.10%), Wipro (0.98%), Bharti Airtel (0.97%), Cipla (0.95%), and Tata Consultancy Services (0.71%).

The wider 51-scrip Nifty of the National Stock Exchange (NSE) was up 29.95 points or 0.33 per cent at 9,173.75 points.

In contrast, NTPC, Maruti Suzuki, L&T, M&M, Coal India, SBI, Tata Steel, Power Grid, Dr Reddy's, Adani Ports and ONGC notched good gains.

The rupee closed at 64.93 compared with its Thursday close of 64.91 against the dollar. Foreign investors have pumped around Rs 54,000 crore into the Indian stock markets in the month of March, the highest monthly investment by FPIs so far.

On the global front, the dollar extended its overnight gains in early Asian trade on Friday on signs of strong USA economic growth, while the euro inched up after sliding overnight on data suggesting slowing growth in Europe, as reported by Reuters.

Hong Kong's Hang Seng was up 0.28 per cent while Shanghai Composite edged up 0.04 per cent in early trade today.

The market breadth turned negative as 1,669 stocks ended lower, 1,182 advanced while, 237 ruled steady. Japan's Nikkei shed 0.03 per cent.

Meanwhile, auto stocks including Hero MotoCorp Ltd and Ashok Leyland Ltd recovered from steep losses after the country's top court banned sale of new vehicles with older Euro III fuel technology from April 1.

United States stocks closed higher yesterday boosted by higher oil prices and sold economic data.

The total turnover fell to Rs 4,606.56 crore from Rs 14,854.52 crore.