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Indian shares ended higher on Friday as investor sentiment was boosted ahead of Muhurat trading and Dhanteras buying.<\/p>\n
Price action in leading stocks indicating short covering, fresh foreign fund inflows and renewed optimism around corporate earnings recovery helped offset weakness in the IT space after second-quarter earnings from Infosys and Wipro raised margin concerns.<\/p>\n
After a weak start, the benchmark BSE Sensex gained momentum to end the session up 484.53 points, or 0.58 percent, at 83,952.19.<\/p>\n
The broader NSE Nifty index closed up 124.55 points, or 0.49 percent, at 25,709.85 while the BSE mid-cap and small-cap indexes dropped 0.4 percent and half a percent, respectively. <\/p>\n
The market breadth was weak on the BSE, with 2,413 shares declining while 1,746 shares advanced and 167 shares closed unchanged. <\/p>\n
Asian Paints soared 4.2 percent, extending its rally to a third consecutive session as oil extended losses and headed for a weekly loss of around 3 percent. <\/p>\n
Hindustan Unilever, ITC, Bharti Airtel and Mahindra & Mahindra all rose around 2 percent. <\/p>\n
Among those that declined, Tata Steel, Tech Mahindra, Eternal, HCL Technologies and Infosys fell 1-2 percent. <\/p>\n
Globally, Asian stocks ended deep in the red as heightened concerns over U.S. banks’ loan portfolios added to worries about the ongoing U.S. government shutdown and escalating Sino-U.S. trade tensions.<\/p>\n
European markets<\/span> opened on a weak note, with banks declining sharply after U.S.-based regional lenders, Zions Bancorp and Western Alliance Bancorp, disclosed that they were exposed to alleged fraud by borrowers, spreading jitters about credit market turmoil.<\/p>\n The dollar extended slide and was poised for its biggest weekly drop in over three months after a Federal Reserve official indicated he would vote for another interest-rate cut later this month.<\/p>\n Gold extended a record-breaking rally and was eyeing its best weekly performance in 17 years as a result of fears about credit quality in the U.S. economy<\/span>, heightened U.S.-China frictions, concerns about the U.S. government shutdown and fears of an AI bubble.<\/p>\n Spot gold traded up 0.3 percent at $4,337.50 an ounce in European trade after hitting a new peak of $4,379.29 earlier. <\/p>\n Oil prices fell over 1 percent and were on course for a third weekly decline due to mounting concerns over a significant supply glut in the oil market and ongoing U.S.-China tensions. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n