Sensex, Nifty Gain For Second Straight Session Led By Banking Shares

Both the indexes posted their fifth weekly gain in six weeks, helped by declining COVID-19 cases, easing of restrictions and a recent record surge in daily vaccinations.

The Indian equity benchmarks gained for second straight session on Friday led by gains in banking and financial services shares. The benchmarks traded in a narrow band in the first half of trade and jumped in noon deals on the back of gains in ICICI Bank, Axis Bank, Infosys, State Bank of India and Tata Steel. The Sensex rose as much as 274 points and Nifty 50 index touched an intraday high of 15,870.80. The Sensex ended 226 points higher at 52,925 and Nifty 50 index advanced 70 points to close a 15,860. Both the indexes posted their fifth weekly gain in six weeks, helped by declining COVID-19 cases, easing of restrictions and a recent record surge in daily vaccinations. Nomura said in a research note on Thursday the country's vaccination rate "skyrocketed" this week, averaging six million doses per day.