Sensex, Nifty ends posting super gains; SBI up 9 pct

New Delhi: The market on Friday ended with super gains boosted by index heavyweights as the Sensex closed up 286.92 points or one percent at 26653.60, and the Nifty was up 79.90 points or 0.9 percent at 8149.55.

SBI gained nine percent while Sun Pharma was up six percent. Adani Ports, Reliance and Bajaj Auto were other gainers in the Sensex, whereas, ONGC, Axis Bank, ITC, GAIL and NTPC were among losers.

State-run oil marketing company Hindustan Petroleum Corporation’s (HPCL) fourth quarter earnings beat analysts’ expectations on all counts. Profit shot up 49 percent sequentially to Rs. 1,553 crore, partly driven by other income and better operational performance.

Revenue declined three percent to Rs. 42,195 crore in March quarter compared to Rs. 43,500 crore in December quarter while other income doubled to Rs. 408 crore from Rs. 204 crore on sequential basis.

Shares of Jet Airways surged six percent intraday after its posted first annual profit after eight years. Lower fuel expenses and cost control measures aided the airline’s performance in FY16.

The airline company’s net profit zoomed to Rs. 397 crore in fourth quarter of FY16 from a loss of Rs. 1729 crore in corresponding quarter last fiscal.

During the quarter, its fuel expenses fell 25 percent at Rs. 999 crore against Rs. 1334 crore in year-ago period. Its total income, in Q4, rose 3.6 percent at Rs. 5245.3 crore compared to Rs. 5064 crore year-on-year. (ANI)