The equity markets settled 1 per cent higher on Friday as the rupee
recovered against the dollar.
The S&P BSE Sensex
reclaimed the 38,000 mark to end at 38,091, up 373 points while the broader Nifty50 index settled at 11,515, up 145 points.
In the broader markets, the S&P BSE MidCap settled 1.6 per cent higher and the S&P BSE SmallCap rose 1.4 per cent.
Among sectoral indices, the Nifty
Pharma index settled 2.5 per cent higher led by a rise in the share prices of Divi's Laboratories and Piramal Enterprises. On the other hand, the Nifty
Bank index rose 1.3 per cent led by YES Bank and IDFC Bank.
strengthened by over 60 paise to 71.58 against the US dollar
in intra-day trade. On Wednesday, the domestic currency rebounded from its historic low of 72.91 to end higher by 51 paise at 72.18 against the dollar.
This apart, Prime Minister Narendra Modi will hold a meeting with finance ministry officials later in the day to discuss the fall in the rupee
and other economic issues. Rupee
is Asia's weakest currency in 2018, down more than 12 percent on a widening current account deficit and higher oil
Investors cheered as the industrial production grew at 6.6 per cent in July on the back of good performance by the manufacturing sector and higher offtake of capital goods and consumer durables.
inflation dipped 3.69 per cent in August 2018, compared to 4.17 per cent in July 2018. The core CPI
inflation declined to 5.90 per cent in August 2018 compared with 6.29 per cent in July 2018.
Inflation based on wholesale prices eased to a four-month low of 4.53 per cent in August on softening of prices of food articles, especially vegetables. The Wholesale Price Index (WPI) based inflation stood at 5.09 per cent in July and 3.24 per cent in August last year.
Asian shares rose on Friday as the United States and China looked set to launch a new round of trade talks amid an escalating tariff row, while a decisive interest rate hike by Turkey's central bank also helped support global risk appetite.