Markets extend winning run to 4th day as auto, IT shares advance

Mumbai: Equity benchmark indices marched higher for the fourth straight session on Friday, with Nifty closing above the 22,000 level, tracking gains in index majors L&T, Infosys and M&M, amid a firm trend in the global markets.

The 30-share BSE Sensex surged 376.26 points or 0.52 per cent to close at 72,426.64. The index touched a high of 72,545.33 and a low of 72,218.10 during intraday trade.

The broader NSE Nifty also climbed 129.95 points or 0.59 per cent to end at points 22,040.70.

Wipro was the biggest gainer in the Sensex chart, rising 4.79 per cent, followed by M&M, L&T, Tata Motors, Maruti, Infosys, Nestle India and IndusInd Bank.

Shares of M&M shot up 3.96 per cent to finish at Rs 1,835.55 apiece after it announced its supply agreement with German automotive major Volkswagen Group for electric vehicle components under their joint vision for electric mobility collaboration.

In contrast, PowerGrid, SBI, Reliance, NTPC and Axis Bank were among the laggards.

In Asia, Japan's Nikkei, Hong Kong's Hang Seng and South Korea's Kospi settled with significant gains.

China's financial markets are closed for the Lunar New Year holidays.

The US market closed higher in the overnight trade on Thursday.

Global oil benchmark Brent crude slipped 0.83 per cent to USD 82.17 a barrel.

In the previous session, the 30-share index climbed 227.55 points or 0.32 per cent to close at 72,050.38 points, while NSE Nifty gained 70.70 points or 0.32 per cent to end at 21,910.75.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday as they sold shares worth Rs 3,064.15 crore, according to exchange data.