Here's how the day was at the Markets

The Nifty ended the week with a bang as traders bought into beaten down valuations and bottom fished for gains on Friday after global markets stabilised.

The Nifty surged 163 points, or 2 percent, close at 8,519, its day's high, as the bulls snatched momentum back from the bears. The Nifty's Advance-Decline ratio was a strong 47/3. Punjab National Bank, Zee Entertainment, Yes Bank, Bank of Baroda and Kotak Bank were the five top gainers on the Index. The 3 stocks to cede ground were Dr. Reddy's, BPCL and Infosys on the Nifty where Axis Bank was the most traded index stock worth 424 crore rupees.

Adani Ports and Glenmark were in very heavy demand on the NSE thanks to their pending inclusion in the MSCI India Index.

Bulls took complete charge of the wider market as well. Major indices such as CNX 100, CNX 200, CNX Midcap, CNX Small Cap and CNX 500 closed with gains amounting to 1.9-2.1 percent.

The Bank Nifty managed to end at the high point of the day, up 552 points at 18,728 on murmurs that the government will recapitalise some PSU lenders today evening. The CNX PSU Bank Index surged 4.6 percent as well. The trend in other sectoral indices was strong. The CNX Pharma, CNX PSU Bank and CNX Auto Indexes posted gains of between 0.6-8.5 percent. The CNX Realty Index was the star of the tradeon Friday.

On the Bombay Stock Exchange, the Sensex jumped 518 points, or 1.9 percent, to end the week at 28,067 points. Vedanta, ICICI Bank, SBI, RIL and HDFC posted smart gains on the Index while Infosys and Dr. Reddy fell in trade. Consequently, the Advance-Decline Ratio was a strong 28/2 on the Sensex on which State Bank of India was the top traded counter worth 54 crore rupees.

Bulls resumed charge in the wider market after six days of negative advance-decline ratios. Today, 1,789 stocks gained ground versus 1,058 that fell below Thursday's closing prices.

The trend was bullish as well in the derivatives space with Nifty Futures closing at 8,545, up 164 points. DLF, HDIL and PNB were the top gainers in the futures space and all 18 sectors reported a rise in prices coupled with a gain in Open Interest. The Realty, Banking and Media sectors were the top gainers. The Advance-Decline Ratio was at 149/13 in the futures and Options market.

Strong earnings were reported by Power Finance Corporation, Amara Raja Batteries, Hindalco and BPCL. Adani Ports, Alicon Castalloys, Jindal Poly Films and Maruti hit fresh highs on the NSE and SKF India, ICRA and KNR Constructions made it to the top volume buzzers list on the exchange.

Image credit: Indiatimes