As per provisional closing data, the S&P BSE Sensex gained 376.26 points or 0.52% to 72,426.64. The Nifty 50 index added 129.95 points or 0.59% to 22,040.70.
In the broader market, the S&P BSE Mid-Cap index gained 0.78% and the S&P BSE Small-Cap index rose 0.68%.
The market breadth was positive. On the BSE, 2,191 shares rose and 1,650 shares fell. A total of 94 shares were unchanged.
New Listing:
Shares of Entero Healthcare Solutions settled at Rs 1,149.50 on the BSE, representing a discount of 8.62% as compared with the issue price of Rs 1,258.
The scrip was listed at Rs 1,245, exhibiting a discount of 1.03% to the issue price. The stock has hit a high of 1,258 and a low of 1,141.80. On the BSE, over 1.38 lakh shares of the company were traded in the counter.
Buzzing Index:
The Nifty Auto gained 2.21% to 20,423.45. The index advanced 5.17% in four trading sessions.
Tube Investments of India (up 7.05%), Mahindra & Mahindra (up 4.11%), Bajaj Auto (up 2.86%), Maruti Suzuki India (up 2.54%), Bharat Forge (up 2.12%), TVS Motor Company (up 2.06%), Tata Motors (up 1.92%), Hero MotoCorp (up 1.7%), Bosch (up 1.22%) and Samvardhana Motherson International (up 0.66%) advanced.
Mahindra & Mahindra (M&M) jumped 4.11% after the company and the Volkswagen Group announced the signing of the first supply agreement on components of Volkswagens MEB for M&Ms purpose-built electric platform INGLO. The deal covers the supply of certain electric components as well as unified cells.
TVS Motor Company rallied 2.06% after the company announced that it has acquired 28.57% stake in the Indian Foundation for Quality Management (IFQM) for Rs 2.5 crore.
Stocks in Spotlight:
B.L.Kashyap and Sons rose 1.97% after the company announced that it has secured new order worth approximately Rs 208 crore from Manyata Promoters.
Dilip Buildcon rose 0.48% .The company announced its joint venture (JV), VKMCPL-DBL has emerged as the lowest bidder (L-1) for construction project in Madhya Pradesh worth Rs 412.92 crore.
Indian Hume Pipe rose 0.34%. The company received letter of intent from Tapi Irrigation Development Corporation Jalgaon, Maharashtra for engineering, procurement and construction (EPC) project worth Rs 495.04 crore.
Axis Bank shed 0.31%. The bank said that the former Rajya Sabha member Subramanian Swamy filed a petition in the Delhi High Court against the Axis Bank-Max Life deal, accusing the private bank of a scam of Rs 5,100 crore. Swamy has demanded an investigation by an expert committee, alleging that the bank got undue benefit from the deal. In the petition, he raised questions about Axis Bank's transactions in Max Life. He also raised questions about the role of the Axis Bank chairman in the deal. Swamy has demanded the court make strict rules to prevent further scams.
Global Markets:
European and Asian stocks advanced across the board on Friday, boosted by overnight gains on Wall Street. Japans Nikkei 225 hit a fresh 34-year high.
Mainland China markets remain closed for the Chinese New Year holidays.
US stocks closed higher on Thursday as retail sales data declined more than expected, feeding hopes the Federal Reserve will soon start cutting interest rates in coming months.
US retail sales fell more than expected in January. Retail sales dropped 0.8% last month, the Commerce Department's Census Bureau said on Thursday. Data for December was revised lower to show sales rising 0.4%, instead of 0.6% as previously reported.
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