Both the indices recorded their second straight weekly gains by rising 276.77 points, or 0.91 per cent, and 27 points, or 0.28 per cent, respectively.
State Bank of India, the country's biggest lender by assets, rose 1.7% to 308.15 rupees on Friday and added about 4% for the week, after posting a 123% increase in on-year in net profit for the quarter ended Mar.31. The BSE IT index was down 0.82 per cent; TS, Infosys, Wipro, Tech Mahindra, HCL Technologies, Hexaware and Tanla Solutions were among the losers. The index closed up by 1.21 per cent bucking the overall market trend.
Karur Vysya Bank advanced 1.5 percent on reporting a 58 percent increase in quarterly profit. FMCG shares were witnessing huge demand after passage of lower GST rates, the BSE FMCG index surged 3.42 per cent. Power, metal, banking, realty, capital goods and auto indices were also up 0.5-1.5 per cent each.
Likewise, the 50-scrip NSE barometer Nifty slipped from its all-time high to finish at 9,429.45, down 96.30 points, or 1.01 per cent. The government on Thursday finalised Goods and Services Tax rates for substantial items clearing a major hurdle towards July 1 rollout of much awaited nationwide Goods and Services Tax.
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Foreign portfolio investors (FPIs) were net sellers of Indian equities worth Rs 731 crore while domestic institutional investors ended up as net buyers of stocks worth Rs 615 crore according to provisional data published by the National Stock Exchange.
Overseas, Asian stocks were mixed as investors were cautious due to uncertainties surrounding US President Donald Trump after reports that he tried to influence a federal investigation.
In the Asian region, Hong Kong's Hang Seng rose 0.30 per cent, Shanghai Composite rose 0.12 per cent and Japan's Nikkei gained 0.19 per cent in early deals today.
It was followed by Yes Bank (Rs. 537.48 million), I T C (Rs. 533.47 million) and State Bank Of India (Rs. 464.19 million).