Sensex, Nifty close high over gains in global equities

Sensex and Nifty closed on a higher note tracking gains in global equities, as investors bought shares of recent underperformers such as pharma and financials.

The BSE Sensex jumped 322.65 points to close at 34,142.15 ending 0.39 per cent higher for the week. 

Nifty rose 108.35 pts to 10,491.05 gaining 0.37 per cent.

Sentiments bolstered as Asian shares recovered on ease in worries over aggressive rate hike this year on comments from US Federal Reserve officials.

Major gainers were Tata Steel, Yes Bank, Bharti Airtel, Dr Reddy and SBI.

On net basis, foreign portfolio investors (FPIs) sold shares worth Rs 2,335.34 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,059.42 crore yesterday, provisional data showed.

Meanwhile, Asian markets were trading higher as investors continue to debate the outlook for central bank policy normalisation and the impact of higher bond yields.