The Sensex opened with a small positive gap of 5 points at 4,315. Though the markets remained positive through the session, the players maintained a cautious approach, as buying was seen particularly in heavyweights, thereby pushing the index into a range-bound mode till the mid-afternoon deals.
However, renewed buying in heavyweights, PSUs and other select old and new economy stocks during the closing hours of trading session saw the index spurt to an intra-day high of 4,372. The Sensex finally settled with a gain of 59 points at 4,369.
The Nifty, which edged past the 1,400-mark during the intra-day trades, finally ended 25 points higher at 1,398.
While 24 Sensex stocks advanced, 6 declined on Friday. The traded volume and value of the index scrips were higher at 3.09 crore (30.9 million) and Rs 1,054.56 crore (Rs 10.54 billion), respectively.
Heavyweights attracted considerable buying interest. ITC (up 3% or Rs 25 to Rs 838), HLL (up 3% or Rs 6 to Rs 193) and Reliance (up 2% or Rs 9 to Rs 419) perked up on strong buying support and contributed to the gains of the Sensex.
More than 23 lakh (2.3 million) HLL shares were traded on the BSE today with a turnover of Rs 46 crore (Rs 460 million). Reliance registered volumes of more than 27 lakh (2.7 million) on the BSE with a turnover of Rs 113 crore (Rs 1,130 million).
PSU frontliners, barring HPCL, had a decent outing. BHEL, after a mixed outing till the early afternoon trades, bounced back to end with a gain of 4% (Rs 13) at Rs 350.
While MTNL raked in 4% gains (Rs 5) to Rs 125, SBI traded on a steady note and closed up a per cent (Rs 5) at Rs 435. The banking major registered volumes of 10.45 lakh (1.04 million) with a turnover of Rs 45 crore (Rs 450 million). HPCL, however, remained lacklustre throughout the day on sustained selling pressure, and dropped 5% (Rs 21) to Rs 411. Earlier today, the Supreme Court reserved its decision on a petition challenging the divestment of HPCL and has set no date for the final ruling. The oil PSU major saw volumes surge more than 49 lakh (4.9 million) on Friday, with a turnover of Rs 205 crore (Rs 2,050 million).
The auto and cement majors gained ground on buying support. Telco moved up nearly 4% (Rs 9) to Rs 268. Bajaj, after trading in and out of the positive zone, finally ended up a per cent (Rs 7) at Rs 730. Hero Honda closed up a rupee at Rs 287.
Gujarat Ambuja at Rs 232 (up Rs 6 or 2%), L&T at Rs 289 (up Rs 4) and ACC at Rs 216 (up Rs 3) ended with gains. Grasim, however, ended down a tad at Rs 615.
Pharma pivotals displayed mixed outing. Cipla languished in the negative territory and lost a per cent (Rs 14) to Rs 977. The pharma major received notices from NPPA and the ministry of chemicals & fertilisers on account of overcharging in respect to four drugs, and was directed to pay Rs 103.09 crore (Rs 1,030.9 million) - which is 50% of the amount for the period up to June 2000. Dr. Reddy's slipped from higher levels to finish down a per cent (Rs 7) at Rs 1,132. Ranbaxy, too, which was asked to deposit Rs 25.40 crore (Rs 254 million) by NPPA for alleged overcharging of drugs, however, ended in the gainers list at Rs 1,035 - up Rs 5. Glaxo remained steady and added Rs 5 to Rs 433.
The tech stocks ended with marginal gains on Friday. Infosys, which spurted 11% on Thursday, ended off-gains on selling pressure to Rs 4,205 - down Rs 13. HCL Tech came off from higher levels and closed up a rupee at Rs 211. Satyam, too, ended up a rupee at Rs 252.
Hindalco rose 2% (Rs 19) to Rs 900. HDFC added Rs 4 to Rs 500. While Tisco notched up nearly 4% (Rs 9) to Rs 268, Zee added 4% to Rs 115.
The tech stocks rallied sharply on strong buying support. Wipro came off the day's low of Rs 1,181 and advanced 5% (Rs 58) to Rs 1,247 on strong buying support. While Mphasis rose 8% (Rs 33) to Rs 427, Moser Baer moved up 5% (Rs 16) to Rs 306. Digital gained 4% (Rs 19) to Rs 552, and i-flex added nearly 2% (Rs 11) to Rs 689. Hughes, however, closed down a per cent (Rs 2) at Rs 369.
IBP clocked 3% gains (Rs 18) to Rs 708. While ONGC and IOC closed up a per cent each at Rs 653 (up Rs 4) and Rs 382 (up Rs 6), BPCL was up a tad at Rs 334.