Equities extend gains for 7th session aided by IT, durables stocks


In the later part of the session the Nifty 50 reclaimed its 10,400-point mark as investor confidence got a boost due to positive global cues and ahead of a likely update by S&P Global Ratings on India's sovereign debt rating later today.

FMCG stock Hindustan Unilever will be in focus as the company is set to reduce prices by 7-10 percent on an average across products such as detergents, cosmetics, deodorants and packaged foods following the reduction in GST from 28 percent to 18 percent. Asian stocks gained after volatile trade. Markets will remain shut for Thanksgiving holiday today.

It saw an intra-day movement of 42.25 points.

The benchmark BSE Sensex and the Nifty50 extended their gains to a sixth successive session yesterday, adding 26.53 points and 6.45 points, respectively.

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Value buying in consumer durables, oil and gas as well as IT stocks lifted the key Indian equity indices on Friday although profit booking in metals sector capped the gains.

The Sensex was trading higher in afternoon trade with Nifty too in the green in afternoon trade on Thursday.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined. The market capitalisation of listed firms on NSE stood at Rs 1,44,38,892.20 crore.