By
Market ends lower this week on global slowdown worries, India stimulus concerns
Photo Credit: 123RF.com

Indian shares rebounded to end higher on Friday, after three sessions of declines, as investors awaited an official announcement later in the day amid expectations of a fiscal stimulus to revive growth in Asia’s third-largest economy.

The broader NSE Nifty closed up 0.82% at 10,829.35, while the benchmark BSE Sensex ended 0.63% higher at 36,701.16.

The NSE Nifty closed 1.98% lower for the week, as trading was dominated by global economic slowdown worries as well as investor concerns about India’s fiscal stimulus.

Markets had a volatile session on Friday as investors parsed through a series of headlines relating to a possible economic stimulus, but turned higher after news that Finance Minister Nirmala Sitharaman would hold a press conference at 1130 GMT later in the day.

The Nifty Media index rose 4.4%, gaining the most among the 14 sectoral indexes.

Shares of miner Vedanta Ltd were among the top gainers in the index, settling up 5.7% for the day. Index heavyweight Reliance Industries Ltd closed 2.35% higher.

Only nine of 50 scrips in the NSE Niftyfinished the day in the red.

Leave Your Comment(s)