Sensex Jumps 242 Points to 33191, Nifty at 10243

Sensex open in green up 190 points

Indian stock markets are likely to open flat on Friday with the SGX Nifty trading 7 points higher at 10208.50 on Singapore Exchange.

Mumbai: The BSE Sensex staged a rebound to gain 352 points on Thursday as investors bet on the government soon coming out with the details of its bank recapitalisation plan.

"Markets rallied higher on Friday after the sharp bounce back seen on Thursday".

The broader market, midcap shares outsmarted the smallcap stocks with substantial gains. The central bank is widely expected to keep policy rates unchanged tomorrow and will stay focused on controlling inflation, experts said. This is its biggest single-day jump of the index since May 25, when it had gained 149.20 points. The BSE FMCG index topped with a robust 2.23 percent rise, followed by metal 1.36 percent, healthcare 1.35 percent, consumer durables 1.15 percent, oil & gas 1.02 percent, auto 0.97 percent, bankex 0.92 percent and realty 0.72 percent.

In the Sensex pack, with Sun Pharmaceutical, Tata Motors, Bharti Airtel, Hindustan Unilever and ITC all gaining more than 2% each.

Foreign portfolio investors (FPIs) utilised the rise in the market to offload shares worth Rs 675.2 crore, while Domestic Institutional Investors bought shares worth Rs 1,243 crore, provisional data showed.

However, Coal India fell by 2.75 percent, followed by Hero Motoco 2.60 percent, Wipro 2.14 percent, Dr Reddy 2.03 percent, M&M 1.44 percent and TCS 1.12 percent.

All the sectoral indices ended in the green.

Most Asian and European markets rallied as investors awaited major economic data from China and the United States amid overnight gains at Wall Street following reports that President Donald Trump is planning to unveil a big-spending public works plan. The index posted its biggest weekly gain since early November, climbing 1.27 percent this week.

Gold prices drifted lower by 0.27 percent to Rs 28,589 per 10 grams in futures trade today as participants cut their bets amid a weak global trend.

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