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Sensex, Nifty Finish Marginally Higher As Banks Climb
(RTTNews) - Indian shares gave up early gains to end on a flat note Friday as strong earnings updates, including from Axis Bank, were offset by weak global cues.
The benchmark S&P BSE Sensex closed up 104.25 points, or 0.18 percent, at 59,307.15, extending gains for a sixth straight session.
The broader NSE Nifty index gained 12.35 points, or 0.07 percent, to settle at 17,576.30.
Shares of private sector lender Axis Bank soared 9.5 percent after a robust earnings report.
Hindustan Unilever, SBI Life, Kotak Mahindra Bank and ICICI Bank all climbed around 2 percent.
The Bajaj twins led losses, with Bajaj Finance losing 3.4 percent and Bajaj FinServ falling 2.5 percent.
The rupee inched up against the dollar but posted its sixth weekly decline as global bond yields climbed in response to hawkish Fed comments.
Philadelphia Federal Reserve President Patrick Harker said on Thursday that rate hikes will continue "for a while" to combat inflation.
Germany's 10-year bond yields hit a fresh 11-year high amid expectations that the European Central Bank (ECB) will raise interest rates sharply again next week.
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