Indian equity benchmarks ended with solid gains on Friday following Asian peers. US markets also ended with sharp gains on Thursday after the softer-than-expected US inflation data report. Traders were hopeful with the report as it signaled monetary easing by the US Federal Reserve in coming months.

The Sensex closed 1,184.34 points or 1.95% higher to 61,795.04. The Nifty rose 321.50 points or 1.78% to 18,349.70. 

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The broader indices ended higher with the BSE MidCap index gaining 0.15% and the SmallCap index up by 0.33%. 

The top gaining sectoral indices on the BSE were IT by 2.06%, TECK 1.36%, Metal 1.35%, Financial Services 1.35%, and Tealty 0.94%, while Auto 0.34%, FMCG 0.10%, Power 0.08%, and Utilities 0.05% were only gaining sectoral indices on BSE.

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Top gainers on the Sensex were HDFC up by 5.84%, HDFC Bank 5.62%, Infosys 4.51%, Tech Mahindra 3.64%, HCL Technologies 3.56%, TCS 3.43%, Wipro 2.80%, Tata Steel 2.72%, Reliance Industries 2.21%, and Larsen & Toubro 1.68%.

Top laggards from the Sensex pack were M&M down by 0.83%, SBI 0.76%, Kotak Mahindra Bank 0.73%, Dr Reddy’s Labs 0.50%, ICICI Bank 0.42%, NTPC 0.38%, Power Grid 0.28%, and Hindustan Unilever 0.23%.

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The rupee gained 71 paise to close at 80.69 against the US dollar on Friday.

Asian markets settled higher with the KOSPI Composite up by 3.37%, the Nikkei 225 up by 2.98%, Shanghai Composite up by 1.69%, and the Hang Seng down by 7.74%.

Also Read: US dollar falls as inflation data raises hope of easing Fed

European stock exchanges were trading mostly red in mid-session deals. The US equity markets ended with strong gains on Thursday.

Brent crude futures, the international oil benchmark advanced 0.27% to $93.92 per barrel.

According to stock exchange data, foreign institutional investors purchased shares worth a net of Rs 36.6 crore on Thursday.