Markets gain for 2nd day this week, metals, PSU banks rally

The Indian benchmark indices ended higher on Friday after a volatile session, as persistent FII outflows weighed on sentiment, even though global cues and the RBI’s easy stance boosted optimism.At close, the Sensex was up 223.86 points or 0.28 percent at 81,207.17, and the Nifty was up 57.95 points or 0.23 percent at 24,894.25. About 2592 shares advanced, 1411 shares declined, and 132 shares unchanged.
Tata Steel, Power Grid Corp, Hindalco, Axis Bank and L&T were the top gainers on the Nifty, while losers included Max Healthcare, Coal India, Maruti Suzuki, Tech Mahindra and SBI Life Insurance.On the sectoral front,except pharma, realty, FMCG, all other sectoral indices ended in the green with metal index rose nearly 2 percent, PSU Bank up 1 percent.  The BSE midcap index was up 0.8 percent and smallcap index added 1 percent, according to information.
Rupee Close:
On 3 Oct,25,the Indian rupee witnessed range bound trading in morning deals on Friday and depreciated 5 paise to close at 88.78 against the US dollar, as the strength of the American currency in the overseas market and a negative trend in domestic equities weighed on investor sentiments.Forex traders said the USD/INR pair is trading in a narrow range as pressure from US policies, trade tensions and global uncertainties dented sentiments further.
Moreover, persistent foreign fund outflows and the ongoing US visa fee hike issue dragged down the domestic unit.
Trading Guide:
Market experts recommended five shares to buy on Friday-Lumax AutoTechnologies, Senores Pharmaceuticals, Bharat Seats, Rategain Travel Technologies, and Gabriel India.

(Business Correspondent)