Key benchmark equity indices on Friday gained more than 1.5% led by technology and auto stocks following global cues.  The S&P BSE Sensex rose 1,331 points or 1.68% to 80,437. Top Sensex gainers included Tech Mahindra up 4.02%, Tata Motors (3.47%), M&M (3.45%), TCS (2.91%), HCL Tech (2.65%) and UltraTech Cement (2.60%). The NSE Nifty-50 index, too, surged 397.40 points, or 1.65%, to 24,541. 

Avdhut Bagkar Technical and Derivatives Analyst, StoxBox said, “The Indian frontline indices traded significantly higher on Friday mirroring the positive global market sentiment. The gains in the market were broad-based as midcap and smallcap indices also moved higher.” “This upbeat market mood was primarily driven by reduced volatility, which stemmed from increased expectations of a U.S. rate cut in the September session. All of the 13 sectors logged in gains, with IT and Realty leading the gains,” he said.