Sensex ends 117 pts up, logs best weekly gain in 10 months; SBI jumps 11%February 5, 2021 0 By boss
Stock market updates: Stellar December quarter results by State Bank of India (SBI) and a status-quo in policy rates by the Reserve Bank of India (RBI) kept markets afloat on Friday even as mild profit-booking amid heightened volatility trimmed gains at higher levels.
Kotak Mahindra Bank, UltraTech Cement, Dr Reddy’s Labs, ITC, HUL, and HDFC Bank, all up between 1 per cent and 4 per cent, were the other top gainers on the index. On the downside, Axis Bank (down 3 per cent), Bharti Airtel, ICICI Bank, Maruti Suzuki, TCS, and HCL Tech were the top laggards on the index.
The broader markets, however, came under selling pressure. The S&P BSE MidCap and SmallCap indices ended 0.93 per cent and 0.28 per cent lower, respectively.
RBI monetary policy
Global shares approached record highs on Friday and the dollar headed for its best weekly gain in three months, as progress in vaccine distribution and US stimulus hopes prompted bets on further normalisation in the global economy.
The STOXX index of Europe;s 600 largest stocks was up 0.2 per cent, while MSCI’s gauge of Asian shares outside Japan rose 0.4 per cent. Japan’s Nikkei also rallied 1.5 per cent.
(With inputs from Reuters)