Stock Market Snaps Losing Run: Sensex Rises 72 Points; Nifty Around 19,400 On Late Buying. Metal, Financials Lead

Stock update: On the 30-share Sensex platform, M&M, HCL, Titan, IndusInd Bank, Nestle, Infosys were among losers. On the flip side, NTPC, TechM, UltraCemco, Bajaj twins, Axis Bank emerged gainers

In the broader markets, the BSE Midcap index reversed losses to end 0.33 per cent higher, while the BSE Smallcap index rose 0.38 per cent.

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The two key equity benchmarks, Sensex and Nifty, on Friday snapped their losing run and closed in the green. The domestic indices, which remained in the negative zone for better part of the day, turned positive at the fag-end of the day. The S&P BSE Sensex rose to 64,905, up 72 points. Sensex hit an intraday low of 64,581. On the other hand, the NSE Nifty50 closed at 19,425, up by 30 points. It hit a low of 19,329.

On the 30-share Sensex platform, M&M, HCL, Titan, IndusInd Bank, Nestle, Infosys were among losers. On the flip side, NTPC, TechM, UltraCemco, Bajaj twins, Axis Bank emerged gainers.

In the broader markets, the BSE Midcap index reversed losses to end 0.33 per cent higher, while the BSE Smallcap index rose 0.38 per cent.

Sectorwise, Nifty Metal was the biggest gainer of the day, gained 0.70 per cent, followed by Nifty Oil & Gas, Nifty Financial Services, and Nifty Bank. Nifty Media was the biggest loser, down over 1 per cent, followed by Nifty Auto.

In the previous session on Thursday, the S&P BSE Sensex closed at 64,832, down 143 points, while the NSE Nifty50 settled at 19,395, down 48 points.

"Selective buying helped markets end marginally higher despite other Asian and European counterparts struggling on the back of selling pressure. Foreign fund outflows from the domestic market have been of concern," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled lower. European markets were quoting in the negative territory. The US markets ended lower on Thursday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,712.33 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude climbed 0.94 per cent to $80.76 a barrel.

Meanwhile, the rupee declined 4 paise to settle at its lifetime low of 83.33 (provisional) against the US dollar on Friday, tracking an upward movement in crude oil prices and foreign capital outflows. Forex traders said investors were awaiting industrial output and inflation data on the domestic front amid a weak American currency overseas and positive cues from equity markets.

At the interbank foreign exchange, the rupee opened at 83.28 and plunged to 83.49 against the greenback during intra-day. It finally settled at its record low of 83.33 (provisional) against the dollar, registering a loss of 4 paise from its previous close. Earlier, the currency's lowest closing level was recorded at 83.32 versus the dollar on September 18 this year. On Thursday, the rupee closed at 83.29 against the American currency.