India's Sensex closes 143 points higher in volatile trading

Mumbai: The Indian equities markets benchmark Sensex closed 143 points higher in volatile trading on Friday amid mixed cues from the global stock markets. The Sensex fluctuated 728 points in the intra-day.

The benchmark Sensex opened on a positive note and surged more than 500 points in the morning trade.

However, the index slipped into the negative in the afternoon. The markets gain some ground towards the end of the closing session led by good buying support in heavyweight Reliance Industries and IT stocks. The 30 stock S&P Sensex of the Bombay Stock Exchange closed at 59,744.65 points, which is 142.81 points or 0.24 per cent higher from its previous day’s close at 59,601.84 points.

The Sensex witnessed volatile trading surging to a high of 60,130.18 points and low of 59,401.44 points, fluctuating by 728.74 points in the intra-day. The Sensex had lost 621.31 points or 1.03 per cent on Thursday.

The broader Nifty 50 of the National Stock Exchange closed at 17,812.70 points, which is 0.38 per cent or 66.80 points higher from its previous day’s close at 17,745.90 points.

The Nifty also witnessed volatility surging to a high of 17,905.00 points and a low of 17,704.55 points in the intra-day.

Reliance Industries surged 0.80 per cent to Rs 2435.95. Reliance Industries witnessed good buying support surging to a high of Rs 2457.65 in the intra-day after the company announced that it has raised $4 billion in US dollar bonds. This is the largest such issue by an Indian corporate.

The bond was nearly three times oversubscribed. Another major development also took place related to Reliance. Reliance Retail announced buying stake in quick commerce player Dunzo.

Asian Paints jumped 1.79 per cent to Rs 3576.45. TCS 1.26 per cent higher at Rs 3854.85; Nestle India 1.23 per cent higher at Rs 19888.75; UltraTech Cement 1.18 per cent higher at Rs 7553; ICICI Bank 1.06 per cent higher at Rs 793.35; Hindustan Unilever 1 per cent higher at Rs 2416.50 and Wipro 0.79 per cent higher at Rs 711.20 were among the major Sensex gainers.

Half of the Sensex scrips closed in the negative. Bajaj Finserv dipped 1.39 per cent to Rs 17736; Mahindra & Mahindra slumped 1.31 per cent to Rs 828.95.

Larsen & Toubro 1.06 per cent down at Rs 1904.75; Bajaj Finance 1 per cent down at Rs 7662.45; HDFC 0.98 per cent down at Rs 2596.90; Titan 0.92 per cent down at Rs 2572.80; Bharti Airtel 0.78 per cent down at Rs 704.70 and Dr Reddy’s Laboratories 0.69 per cent down at Rs 4707 were among the major Sensex losers.