Mumbai: The benchmark indices Sensex and Nifty rose for the second consecutive session on Friday, supported by purchases in metal and telecom sectors, amid a positive trend in global markets. After fluctuating between gains and losses throughout the session, the 30-share BSE Sensex increased by 223.86 points, or 0.28 percent, closing at 81,207.17. The index recorded a high of 81,251.99 and a low of 80,649.57, experiencing a variation of 602.42 points. On the BSE, 2,710 stocks advanced, while 1,490 declined, and 139 remained unchanged. The 50-share NSE Nifty rose by 57.95 points, or 0.23 percent, reaching 24,894.25. Weekly performance showed the BSE benchmark gaining 780.71 points or 0.97 percent, and the Nifty increasing by 239.55 points or 0.97 percent.
“After a phase of range-bound trading, the market concluded positively, bolstered by gains in metal and consumer durables sectors. Optimism about a potential Federal Reserve rate cut in October, a declining dollar, and stable base metal prices fueled the rally in metal indices. Consumption stocks are gaining traction due to reforms, favorable monsoon conditions, and moderated inflation, which is enhancing demand as disposable incomes rise,” explained Vinod Nair, head of research at Geojit Investments Ltd.