After opening the day on positive note, Indian share markets continued the momentum as the session progressed and ended the 0.6% higher.
Indian benchmark indices inched up on Friday after the Reserve Bank of India stayed pat on key interest rates as expected.
The RBI's rate-setting committee kept the key lending rate steady at 6.5%. The central bank also maintained its policy stance of "withdrawal of accommodation" to bring inflation within its target band.
At the closing bell, the BSE Sensex stood higher by 364 points (up 0.6%).
Meanwhile, the NSE Nifty closed higher by 108 points (up 0.6%).
Titan and IndusInd Bank were among the top gainers today.
HUL and ONGC, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 19,669, up by 64 points, at the time of writing.
Broader markets are trading on a positive note. The BSE Mid Cap index and the BSE Small Cap index is trading higher by 0.6%.
Barring the telecom sector, sectoral indices ended on a positive note with stocks in the FMCG sector and realty sector were witnessing buying.
Shares of TCS and DLF their 52-week high today.
Asia-Pacific markets were mixed on Friday.
The Nikkei index fell 0.3%. The Hang Seng index rose 1.6%, while the Shanghai Composite ended 0.1% higher.
In commodity markets, gold prices are trading marginally higher at Rs 56,630 per 10 grams today.
Meanwhile, silver prices are trading marginally 0.4% higher at Rs 67,035 per 1 kg.
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In news from the banking sector, Ujjivan Small Finance Bank surged more than 6% in the early trade to hit a fresh 52-week high of Rs 60.4 on 6 October after a robust quarterly update marked by strong loan growth and improved asset quality.
The lender's total deposits grew 43% on year to Rs 29,1.3 bn in the July-September quarter, while sequentially, they were up 9%. Advances also rose 27% on year and 5% on quarter to Rs 266 bn.
Disbursements were up 18% year on year (YoY) at Rs 57.5 bn in the quarter gone by. On a sequential basis, they rose 9%.
The lender's asset quality also improved, as gross non-performing assets (NPAs) fell to 2.2% from 2.4% in the previous quarter. Gross NPAs stood at 4.4% in the same quarter of the previous fiscal.
The robust update fueled hopes of a strong performance from the lender in the upcoming earnings season, triggering a spike in the stock.
Ujjivan Small Finance Bank rose around 154% in the past year. Over a month, the share price has gone up by 22%.
To know why shares of the company are hitting back-to-back record high, check out Why Ujjivan Small Finance Bank Share Price is Rising.
Moving on to news from the FMCG sector, Dabur India is likely to see mid to high single-digit revenue growth in the second quarter of the current fiscal year as international business improves and domestic consumption recovers, the company said in a statement.
The consolidated business will see higher gross margin expansion than in the first fiscal quarter as a result of moderating inflation and the firm's cost-saving initiatives.
The company said that consumption has improved year-on-year (YoY), however, the recovery has been gradual on a mild summer and a slightly deficient monsoon.
Since the festive season also occurs later in the year, the offtake will be carried forward to the next quarter.
Consumption in rural and urban markets is expected to recover as a result of improving macro indicators, an increase in government spending, and positive consumer sentiment.
In India, healthcare and home & personal care (HPC) segments are expected to see high single-digit growth.
The delay in the festive season will result in declining revenue for the F&B business, however, Badshah Masala will continue to perform well and is likely to record healthy growth.
For Dabur's growth strategy, check out Dabur's 'Spicy' Growth Strategy to Acquire Majority Stake in Badshah Masala
Moving on, Gold steadied near seven-month lows on Friday as the US dollar and bond yields, which scaled fresh highs this week, took a breather and investors awaited US non-farm payrolls data that could affect the interest rate outlook.
Spot gold was flat at US$ 1,819.52 per ounce by 0736 GMT and was on track to log a second consecutive weekly loss, shedding 1.6% so far. US gold futures firmed 0.1% to US$ 1,833.2.
Benchmark US 10-year bond yields pulled back from a 16-year peak and the US dollar was off November 2022 highs but remained on track for 12 straight weeks of gains.
To know what's moving the Indian stock markets today, check out the most recent share market updates here.
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