Nifty Bank surged 327.90 points or 1.35 per cent to end at 24,689.15 with shares of Kotak Mahindra Bank (up 2.34 per cent), HDFC Bank (up 1.76 per cent), Canara Bank (up 1.60 per cent), ICICI Bank (up 1.40 per cent), Yes Bank (up 1.18 per cent) and Punjab National Bank (up 0.90 per cent) being the top gainers. Better than expected macroeconomic data cheered sentiment on the street.
The 30-share BSE Sensex opened positive, but shed some ground to settle the session higher by 250.47 points, or 0.78 per cent, at 32,432.69, its biggest closing since August 2. So the markets are waiting for the Sensex to cross the new highs made in August.
According to official data released on Thursday, the IIP for August showed that factory output grew 4.3 per cent against the same month previous year, and September's CPI inflation remained static at 3.28 per cent as compared to August.
Among BSE sectoral indices, banking index gained the most by 1.33 per cent, followed by TECk 1.23 per cent, metal 1.17 per cent and realty 0.54 per cent.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 1,698.50 crore while domestic institutional investors (DIIs) purchased stocks worth Rs 1,590.13 crore.
Energy-to-telecom conglomerate Reliance Industries jumped 4.8% for the week on bets of a strong July-September earnings. On the other hand, healthcare index was down 0.29 per cent, FMCG 0.25 per cent, capital goods and oil & gas 0.14 per cent each.
Besides Bharti Airtel, IT bellwether TCS firmed up 0.32 per cent to Rs 2,556.75 even as the company's net profit fell 2.1 per cent in the September quarter.