Markets halt 3-day losing run; Sensex, Nifty settle nearly 1% higher

Equity benchmark indices Sensex and Nifty snapped their three-session losing streak to close nearly 1 per cent higher on Friday, buoyed by gains in HDFC Bank, Reliance Industries and Infosys amid a largely firm trend in global markets.

After three days of decline, the 30-share BSE Sensex climbed 480.57 points or 0.74 per cent to settle at 65,721.25. During the day, it jumped 558.59 points or 0.85 per cent to 65,799.27.

The NSE Nifty advanced 135.35 points or 0.70 per cent to end at 19,517.

IndusInd Bank was the biggest gainer in the Sensex pack, rising 3.25 per cent, followed by Tech Mahindra, Wipro, Bharti Airtel, HCL Technologies, Axis Bank, HDFC Bank, RIL, TCS, L&T and Infosys.

State Bank of India, NTPC, Maruti, Bajaj Finserv, Tata Motors and Power Grid were among the laggards, slipping up to 2.94 per cent.

In Asian markets, Tokyo, Shanghai and Hong Kong ended in the positive territory while Seoul settled lower.

European markets were trading with gains in early deals. The US markets ended marginally lower in the overnight trade on Thursday.

India's services sector growth touched a 13-year high in July as a substantial improvement in demand conditions and a pick-up in international sales induced the strongest increase in new business and output, according to S&P Global India Services PMI Business Activity Index.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 317.46 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude climbed 0.62 per cent to USD 85.67 a barrel.

The BSE benchmark fell by 542.10 points or 0.82 per cent to settle at 65,240.68 on Thursday. The Nifty declined 144.90 points or 0.74 per cent to end at 19,381.65