Nifty Bank leads market rally on Friday

Bulls were on high spirits in Friday's trading session ahead of the weekend, continuing their run from where they had left in Thursday’s session. Both the benchmark indices BSE Sensex and Nifty 50 closed with gains of over half a percentage point.

Today’s rally was primarily led by pharmaceuticals and banking index as they closed with gains of over 2 per cent and 1.5 per cent, respectively.

At the closing bell, Nifty ended at 8822 with gain of 44 points and BSE Sensex closed at 28468, an increase of 167 points. On the NSE, 29 shares closed in the green, while 22 shares ended the day in red.

There was mixed trend on the sectoral front, as pharma, banks, FMCG and realty indices closed with gains, whereas, IT, metals and PSU banks closed in the negative territory. Both mid-cap and small-cap indices closed with gains of 0.53 and 0.40 per cent, respectively.

Asian markets closed lower in trade on Friday, after rising in the previous trading sessions. Shanghai decreased 0.85 per cent, Nikkei declined 0.58 per cent and Hang Seng slipped by 0.31 per cent at the close. European markets were trading with minor losses.

Nifty Future closed with a positive bias at 8825. Going ahead, 8890/8970 will be the immediate resistance levels.