Equity indices close 1.5 pc higher as energy stocks rally, BPCL spurts 12 pc

Equity benchmark indices advanced by 1.5 per cent on Friday following heavy buying in energy and financial stocks.

At the closing bell, the BSE S&P Sensex was up by 548 points or 1.5 per cent at 37,020 while the Nifty 50 edged higher by 162 points or 1.51 per cent at 10,902.

Except for Nifty IT which dipped by 0.6 per cent, all sectoral indices at the National Stock Exchange were in the positive zone with Nifty financial service up by 1.9 per cent, PSU bank by 1.8 per cent and private bank by 1.7 per cent.

Among stocks, Bharat Petroleum Corporation was the top gainer after moving up by 12.4 per cent to Rs 442.85 per share. While JSW Steel gained by 3.9 per cent to Rs 209.05.

Other energy majors too surged with index heavyweight Reliance Industries gaining by 3.9 per cent to Rs 1,916 per share while ONGC ticked up by 5.8 per cent.

Bharti Infratel edged higher by 4.3 per cent, HDFC Bank by 3.8 per cent, Titan by 3.7 per cent, Bajaj Finance by 3.4 per cent and Tata Motors by 3.3 per cent.

However, IT stocks fell after rallying a day earlier with Tata Consultancy Services dipping by 1.2 per cent, Infosys by 0.6 per cent and Wipro by 0.1 per cent. HCL Technologies dropped by half per cent after Shiv Nadar stepped down from the Chairman's role to pave way for his daughter Roshni Nadar Malhotra.

Meanwhile, Asian shares eked out gains as hopes of more government spending around the globe quelled concerns about rising new coronavirus case numbers and worsening tensions between Washington and Beijing.

Hong Kong's Hang Seng was up by 0.47 per cent and South Korea's Kospi by 0.8 per cent but Japan's Nikkei slipped by 0.32 per cent.

( With inputs from ANI )