AGL 40.00 Decreased By ▼ -0.01 (-0.02%)
AIRLINK 127.00 Decreased By ▼ -0.99 (-0.77%)
BOP 6.68 Increased By ▲ 0.08 (1.21%)
CNERGY 4.49 Decreased By ▼ -0.11 (-2.39%)
DCL 8.60 Increased By ▲ 0.12 (1.42%)
DFML 41.30 Decreased By ▼ -0.18 (-0.43%)
DGKC 86.71 Increased By ▲ 0.13 (0.15%)
FCCL 32.16 Increased By ▲ 0.02 (0.06%)
FFBL 64.70 Decreased By ▼ -0.72 (-1.1%)
FFL 10.29 Increased By ▲ 0.04 (0.39%)
HUBC 109.51 Decreased By ▼ -0.98 (-0.89%)
HUMNL 14.90 Increased By ▲ 0.15 (1.02%)
KEL 5.05 Decreased By ▼ -0.08 (-1.56%)
KOSM 7.40 Increased By ▲ 0.28 (3.93%)
MLCF 41.39 Decreased By ▼ -0.26 (-0.62%)
NBP 60.60 Increased By ▲ 0.51 (0.85%)
OGDC 190.00 Decreased By ▼ -4.69 (-2.41%)
PAEL 27.81 Decreased By ▼ -0.14 (-0.5%)
PIBTL 7.75 Decreased By ▼ -0.25 (-3.13%)
PPL 149.75 Decreased By ▼ -1.42 (-0.94%)
PRL 26.73 Decreased By ▼ -0.15 (-0.56%)
PTC 16.18 Increased By ▲ 0.18 (1.13%)
SEARL 86.02 Increased By ▲ 7.82 (10%)
TELE 7.72 Increased By ▲ 0.33 (4.47%)
TOMCL 35.58 Decreased By ▼ -0.09 (-0.25%)
TPLP 8.14 Increased By ▲ 0.23 (2.91%)
TREET 16.51 Increased By ▲ 0.62 (3.9%)
TRG 53.35 Increased By ▲ 0.59 (1.12%)
UNITY 26.28 Decreased By ▼ -0.27 (-1.02%)
WTL 1.26 Decreased By ▼ -0.01 (-0.79%)
BR100 9,889 Decreased By -31.1 (-0.31%)
BR30 30,611 Decreased By -140.9 (-0.46%)
KSE100 93,355 Increased By 130.9 (0.14%)
KSE30 28,931 Increased By 46 (0.16%)

India's NSE index rose about 2 percent on Friday as software services exporters such as Infosys Ltd and drug makers including Sun Pharma Ltd surged due to a weaker rupee. The broader NSE index rose 1.87 percent to 8,114.30, and advanced 0.5 percent for the week. The benchmark BSE index climbed 1.76 percent to 26,316.34, posting its biggest single-day percentage gain since October 18, and a weekly gain of 0.6 percent.
Both indexes posted their first weekly gain in five. The rupee rebounded to 68.46 per dollar from a record low of 68.8650 hit in the previous session after heavy intervention by the central bank in the morning, though traders said they expected the local currency to remain under pressure due to a rally in the greenback. Sentiment was also boosted as Asian shares advanced, while low roll-overs at the expiry of monthly derivatives on Thursday spurred more buying in cash markets.
However, both the NSE and the BSE indexes were headed for a flat finish for the week after shedding about 2.5 percent each in the previous week, amid continued worries about the impact of demonetisation on economic growth. Anand James, chief market strategist at Geojit BNP Paribas Financial Services, said he expected markets would remain under pressure in the near term.
"Significant buying was expected today after derivatives rollover figures were the least in last three to four months," he said. IT stocks accounted for over half of the NSE index's gains as Infosys and Tata Consultancy Services Ltd extended gains on the rupee's weakness. Infosys rose as much as 5.9 percent, while TCS climbed up to 4.6 percent.

Copyright Reuters, 2016

Comments

Comments are closed.