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Closing Bell: Sensex ends 246 points higher, up 3% for the week, Nifty above 11,650; Yes Bank rises 8%, Zee down 5%

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Indian shares ended higher on Friday led by gains in blue-chip stocks like Reliance Industries (RIL), HDFC Bank, and TCS. The Sensex ended the day with 246 points higher at 39,298, while the broader Nifty50 index added 75 points to end the day at 11,662.

Closing Bell: Sensex ends 246 points higher, up 3% for the week, Nifty above 11,650; Yes Bank rises 8%, Zee down 5%
Indian shares ended higher on Friday led by gains in bluechip stocks like Reliance Industries (RIL), HDFC Bank, and TCS. In intra-day deals, RIL hit a market capitalisation of Rs 9 lakh crore, making it the most valued Indian firm ahead of its Q2 earnings later today. It ended 1 percent higher with an m-cap of Rs 8.9 lakh crore.
The sentiment remained upbeat as investors hoped that last month’s government move to cut corporate taxes will result in a positive earnings season.
The Sensex ended the day with 246 points higher at 39,298, while the broader Nifty50 index added 75 points to end the day at 11,662. The Nifty Midcap advanced 2 percent, while and the Nifty Smallcap index rose 1.7 percent.
Yes Bank, Coal India, Adani Ports, Maruti, and Grasim were the top gainers on the Nifty50, while Zee, Tata Motors, Bajaj Auto, Cipla, Eicher Motors, and Hindalco led the losses.
All sectoral indices, except Nifty Media, were trading in green. Nifty Realty and Nifty Metal indices gained 1.9 percent each during the day. Meanwhile, Nifty PSU Bank rose 1.4 percent, Nifty Pharma was up 1 percent and Nifty IT added 0.8 percent. Nifty Bank and Nifty Auto were also in green for the session.
However, Nifty Media lost 1 percent dragged by Zee Entertainment, which fell over 5 percent on muted Q2 results.
Indiabulls Housing Finance rallied 19 percent, continuing its uptrend after the mortgage lender offered pre-mature redemption of all non-convertible debentures (NCDs) maturing in November and December this year.
Bharat Heavy Electricals Limited (BHEL) surged 22 percent after CNBC Awaaz reported the government is likely to bring down its stake in the company. CNBC Awaaz, citing sources, reported that the government's stake in BHEL may be pared in tranches to 26 percent from 63.17 percent now.
Meanwhile, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.17 percent, after China’s economic growth slowed more than expected to 6 percent year-on-year in the third quarter, the weakest pace in almost three decades.
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