Indices end higher; Sensex closes over 58,800
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Benchmark indices ended higher for the straight second day, with Sensex rising marginally up with 59 points and Nifty up 36 points.
At close, Sensex ended up 59.15 points or 0.10 per cent at 58,833.87, and Nifty ended 36.45 points or 0.21 per cent up at 17,558.90. About 1,991 shares have advanced, 1,428 shares have declined and 146 shares remained unchanged.
NTPC, Titan, Power Grid Corporation of India, Kotak Mahindra Bank, Larsen and Toubro, Tech Mahindra were among the major gainers on the BSE.
BSE LargeCap ended 0.26 per cent, BSE MidCap and BSE SmallCap ended up 0.40 per cent and 0.35 per cent, respectively.
"Markets managed to end marginally higher in a volatile trading session, in continuation of the prevailing consolidation phase. After the initial up-tick, the benchmark inched gradually lower as the session progressed. Meanwhile, a mixed trend on the sectoral front kept the participants busy wherein metal and energy posted decent gains," said Ajit Mishra, VP - Research, Religare Broking Ltd.
Asian markets rose on Friday after a Wall Street rally ahead of a speech by Federal Reserve boss Jerome Powell that is expected to reiterate his plan to ramp up interest rates to fight inflation.
World stocks were narrowly mixed on Friday as traders and investors awaited a speech from Federal Reserve Chair Jerome Powell for clues on the gradient of the US central bank's rate-hike path.
Markets will react to the US Fed chair's address at the Jackson Hole symposium in early trade on Monday.
"Indications are mixed at present and a decisive break from the 17,300-17,800 range in Nifty would trigger the next directional move. Participants should continue their focus on risk management and maintain extra caution in stock selection," Mishra added.
