Sensex, Nifty trade firm PSU banks weak; SBI dips 1.4%

Value buying, easing of 'trade war' fears lift equities after 6-day fall

Market observers said global trade war fears over a likely hike in United States import tariff on steel and aluminium continued to dampen the domestic metals sector, which witnessed heavy selling pressure.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE surged over 400 points to scale an intra-day high of 33,439.97 points, with healthy buying in banking, auto and capital goods stocks adding to the upward trajectory.

Indian markets continued to gain for the second day on Friday. However, the broader market remained with 1,530 stocks declining as against 1,197 stocks that advanced suggesting that the underlying sentiments still is cautious.

The index had lost 1,412.66 points in the previous six sessions on negative domestic as well as global cues. "Broad market indices like the BSE mid-cap and small-cap indices gained less, thereby underperforming the main indices", Jasani added. The MSCI All-Country World index, which tracks shares in 47 countries, was 0.1 per cent higher and set for a weekly gain of nearly 2 per cent.

Provisional figures from the stock exchanges showed that FIIs sold-off scrips worth Rs 280.74 crore, while domestic institutional investors (DIIs) purchased scrips worth Rs 131.07 crore during the week.

Tyson Fury given "straightforward road" to Anthony Joshua fight by Eddie Hearn
Anthony Joshua and Joseph Parker will meet in the ring on Saturday, March 31. "It's the biggest fight in world boxing". Hearn said there is no uncertainty about whether Joshua-Wilder would happen.

UK's GKN To Merge A Part Of Business With Dana
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Why Tesla Motors Inc (NASDAQ:TSLA) shares slumped -1.06% in extended hours?
The firm has "Buy" rating given on Friday, August 7 by Dougherty & Company. (NYSE:VMW) on Friday, March 2 to "Hold" rating. Highbridge Management Limited Liability has invested 0.28% in Tesla, Inc. (NASDAQ:TSLA) for 23,805 shares.

"Inflation is expected to come down to 4.74 per cent in February which will ease bond yields in the near term", said Vinod Nair, Head of Research, Geojit Financial Services.

Except, Nifty Metal (0.45%), Nifty FMCG (0.41%) and Nifty Pharma (-0.33%), all the other sectoral gauges ended positive.

Major Sensex gainers on Friday were: HDFC, up 1.17 per cent at Rs 1,818.45; Tata Consultancy Services, up 1.10 per cent at Rs 3,034.50; Infosys, up 0.58 per cent at Rs 1,163.40; Hindustan Unilever, up 0.56 per cent at Rs 1,300.60; and Larsen and Toubro, up 0.54 per cent at Rs 1,290.15.

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