Sensex ends 139 points higher; Nifty tops 15,850

ICICI Bank, ITC, SBI, HCL Tech, Axis Bank, Bajaj Finserv and Tech Mahindra among top gainers

Sensex ends 139 points higher; Nifty tops 15,850

Photo for representational purpose only. iStock

Mumbai, July 23

Equity benchmark Sensex rose 139 points on Friday following gains in ICICI Bank, ITC and SBI amid a largely positive trend in global markets.

The 30-share BSE index ended 138.59 points or 0.26 per cent higher at 52,975.80, while the broader NSE Nifty advanced 32 points or 0.20 per cent to 15,856.05.

ICICI Bank was the top gainer in the Sensex pack, rising over 3 per cent, followed by ITC, SBI, HCL Tech, Axis Bank, Bajaj Finserv and Tech Mahindra.

On the other hand, L&T, HUL, Reliance Industries and NTPC were among the laggards.

Domestic market traded range-bound but extended gains moderately on sustained rebound in financials, said Binod Modi, Head-Strategy at Reliance Securities.

“Improved prospects of credit growth rebound with visible pickup in economy and comfortable valuations bode well for financials. However, it was not a broad-based rally as midcap and smallcap indices lagged as profit booking was visible in many counters,” he noted.

A sharp recovery in global markets along with buying on dips propelled domestic equities to see sharp rebound in the last two days, Modi added.

Elsewhere in Asia, bourses in Shanghai and Hong Kong were in the red, while Seoul ended with gains.

Equities in Europe were trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude declined 0.01 per cent to USD 73.78 per barrel. PTI

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