Sensex climbs 199 pts to settle at 31,643

RUPEE APPRECIATES 18 PAISE TO SETTLE AT 75.54 AGAINST THE US DOLLAR

MUMBAI: Markets squandered early gains but managed to end in the green on Friday, propped up by heavyweight Reliance Industries which announced another stake sale deal for its digital platform.

After rallying 645.13 points during the day, the 30-share BSE Sensex finally settled 199.32 points or 0.63 per cent higher at 31,642.70.

Similarly, the broader NSE Nifty rose 52.45 points, or 0.57 per cent, to finish at 9,251.50.

Reliance Industries was the biggest contributor to the gains on the benchmarks, jumping over 3 per cent after the company announced the sale of 2.32 per cent stake in Jio Platforms to Us-based Vista Equity Partners for Rs 11,367 crore, the third such deal in a little over two weeks.

In absolute terms, Hindustan Unilever was the top gainer in the Sensex pack, rallying 4.81 per cent, followed by Nestle India, Tech Mahindra and Sun Pharma.

On the other hand, M&M, Axis Bank, NTPC and Indusind Bank were among the major laggards, shedding up to 3.87 per cent.

During the week, the Sensex plunged 2,074.92 points or 6.15 per cent, and the Nifty tanked 608.40 points or 6.17 per cent.

Foreign portfolio investors purchased equities worth a net Rs 19,056.49 crore in the capital market in the previous session, provisional exchange data showed.

Meanwhile, international oil benchmark Brent crude futures climbed 1.73 per cent to $ 29.97 per barrel.

On the currency front, the rupee appreciated 18 paise to provisionally settle at 75.54 against the US dollar.