The Indian stock market rallied to a near 3-week high as a gauge of lenders snapped its two-day losing streak and automakers extended their rally. The key benchmark extended their gains in the late afternoon session and was hovering near the highest point of the day on continued buying by domestic institutional investors amid higher opening among European counterparts. Sentiments remained upbeat on expectations of positive Gross Domestic Product (GDP) data to be released later in the day.

Nifty closed 82.35 points higher at 8,224.50, while BSE Sensex ended with a gain of 258.80 points at 26652.81.

Further, Oil markets edged up ahead of an OPEC meeting later in the day, with members of the producer cartel trying to thrash out an output cut to curb oversupply that has seen prices more than halve since 2014.

On the global front, most Asian indices closed in green and marginally up. However, The Shanghai Composite index slipped 0.99%. In Europe, the FTSE 100 was up 0.35%. CAC 40 and DAX was up 0.36% and 0.24% respectively, where all indices were trading in green while, the US Nasdaq was also up 0.21%.

The firm benefited from higher coal prices, dividend income and low finance costs. Barring two units, all key subsidiaries generated operating profits and several reported better operating profits. The recent rebound in coal rates is also likely to benefit Tata Power in the current quarter also.

Tata Power’s share price opened the trading day up by 1.3% on the BSE.

In another development, according to Telecom Secretary J.S. Deepak, the Indian telecom sector has received foreign direct investment (FDI) of US$10 billion in the first eight months of the current fiscal. The FDI was US$1.3 billion in 2014-15 and US$2.9 billion in 2015-16.

He stated that Unstructured Supplementary Service Data (USSD) needs to be simplified. The USSD service is used by people using feature phones to check the balance in their bank accounts and transfer money.

The sectoral regulator Telecom Regulatory Authority of India (TRAI) has recently lowered the USSD tariff to a maximum of 50 paise per transaction, from the earlier rate of Rs 1.50 per session.

Gold was trading at Rs 28,645 per 10 gms and silver was trading at Rs 40,712 per kg.

The Indian rupee was trading at 68.48 per US dollar.

Out of 1487 stocks traded on the NSE, 389 declined and 1028 advanced today..

Top 5 Nifty Gainers: GAIL (3.34%), ONGC (2.72%), Reliance Ind. (1.44%), HDFC (0.77%) and Lupin Ltd (0.69%).

Top 5 Nifty Losers: Asian Paints (-2.63%), Tata Motors (-1.45%), Bharti Airtel (-1.05%), Adani Ports & Sez (-0.81%) and ICICI Bank (-0.70%)

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The Sensex, Nifty opened in the green on Friday morning. The domestic market is trading higher tracking positive trade in Asian markets even as investors weighed the prospect of a higher interest-rate environment in the U.S.

Nifty closed with a gain of 142 points at 8,107, while BSE Sensex closed at 26,316, up 456 points or 1.76% from the previous close at 25,860.17 points.

On the economy front, PM Narendra Modi pushed for the need to move towards a digital economy, saying that people have the right to use their money, but that can also be done digitally.

Sun Pharma rose 1%. The US drug regulator has found seven breaches of manufacturing standards at Sun Pharmaceutical Industries Ltd’s formulations plant in Mohali, Punjab, following a recent inspection.

SpiceJet rallied 4.4%. The company will announce its Q2 numbers today.

Jagran Prakashan gained 1.5%. The company said its subsidiary Music Broadcast will raise up to Rs 400 crore through initial public offer.

Vardhman Textiles advanced 1.3%. The board of the company has approved buyback proposal for up to Rs 720 crore.

Reliance Industries is trading marginally lower on the BSE. A flash fire broke out at Reliance Industries’ Ltd refinery complex at Moti Khavdi near Jamnagar on Thursday in which some contract workers were injured, the company said.

Wipro rose 2.2%. The company has informed bourses that it has granted 5,000 Restricted Stock Units under Restricted Stock Unit Plan 2007 effective November 1, 2016 to its identified employee.

Khaitan (India) jumped 4.7%. The company has infomed bourses that it has submitted an application for reference to the Board for Industrial and Financial Reconstruction (BIFR) as it has become a sick industrial company pursuant to the provisions of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA).

Jindal Poly Films dropped 2.9%. The company reported a consolidated net profit of Rs 77 crore for the September quarter, lower than the Rs 99.9 crore in the year-ago period.

Talwalkars Better Value Fitness climbed 3.6% after the management has decided to demerge gym business, thereby transferring gym business of TBVFL to TLL, in the interest of maximising overall shareholder value.

TCS rallied 2.5%. Tata Consultancy Services is rethinking how it appraises its over 3,70,000 employees after scrapping the Bell Curve model.

Sterlite Technologies zoomed 3%.The company informed bourses that Crisil has upgraded the Long term credit rating to ‘CRISIL AA-/Stable’ from ‘CRISIL A+/Watch Developing’ and Short term credit rating have been upgraded to ‘CRISIL A1+’ from ‘CRISIL A1 /Watch Developing’.

LT Foods gained 2.3%. The company has inked a 51:49 joint venture with Kameda Seika, to sell rice-based snacks in India.

Natco Pharma inched up 1% after the pharma company has received final approval from the US health regulator for generic version of Budesonide capsules used for treatment of active Crohn’s disease for the American market.

YES Bank gained 2% To Rs 1,143. The bank announced a partnership with Gujarat State Road Transport Corporation (GSRTC) to digitise payment of bus tickets for its customers.

DLF Ltd is currently trading at Rs 110.6, down by Rs 2.55 or 2.25% from its previous closing of Rs 113.15 on the BSE.

The Indian rupee opened marginally higher by one paise at 68.72/$ against the previous close of 68.73/$.

Out of 1,874 stocks traded on the NSE, 269 declined, 1,213 advanced and 392 remained unchanged today.

Top 5 Nifty Gainers: Bharti Airtel (3.17%), Hero MotoCorp (2.33%), NTPC (1.89%), Bajaj Auto (1.56%) and ITC Ltd. (1.49%).

Top 5 Nifty Losers: SBI (-1.99%), ICICI Bank (-1.77%), TCS (-1.18%), Wipro (-1.13%) and Lupin Ltd. (-0.95%)

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This was the biggest loss in a series for both the Sensex and Nifty since August 2013. Finally, the BSE Sensex ended with a loss of 192 points at 25,860. The BSE Sensex opened at 26,049, touched an intra-day high of 26,049 and low of 25,810.

Nifty closed with a loss of 68 points at 7,965, while BSE Sensex ended with loss of 192 points at 25860.

At day end, the sector gainers were Metal, Information Technology, Telecommunications and Telecom while losers were Banking, Auto, Healthcare, Oil & Gas and Consumer Durables on BSE.

Among the 50-stocks of Nifty, Hindalco, Bank of Baroda, TCS, ACC, PowerGrid were among the gainers on NSE, whereas Tata Motors, Zee Entertainment, Sun Pharma, Eicher Motors, Axis Bank were among the losers today.

On the global front, Japanese market Nikkei 225 was up 0.93%, Shanghai Composite was marginally up and Hang Seng down over 0.30%. While, European market FTSE 100 was marginally down, DAX was up 0.19% and the CAC 40 was trading up 0.23%.

The rupee was trading marginally down at 68.73 per US dollar.

Out of 1884 stocks traded on the NSE, 727 declined and 859 advanced today.

Top 5 Nifty Gainers: GAIL (3.40%), Tata Steel (3.20%), Infosys Ltd. (3.03%), TCS (2.17%) and NTPC (1.98%).

Top 5 Nifty Losers: Tata Motors (-0.99%), M&M (-0.85%), Bharti Airtel (-0.81%), Bajaj Auto (-0.81%) and Lupin Ltd. (-0.68%)

To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9582000102.