Stock market indices go up: Sensex climbs 700 points; Nifty around 16,000

The benchmark stock market indices were trading higher in the afternoon session on Friday, snapping five straight days of losing run.

The BSE midcap and smallcap indices up 2 percent each. Among sectors, auto index up 4 percent, while capital goods, FMCG, pharma, oil & gas, PSU bank indices up 2 percent each.

The Sensex was up 702.49 points or 1.33 percent at 53,632.80. The broader Nifty was up 230.80 points or 1.46 percent at 16,038.80. About 2,458 shares have advanced, 640 shares declined, and 90 shares are unchanged

Earlier, the Sensex opened in the positive at 53,565.74 points and rose to a high of 53,695.91 points. The Sensex touched a low of 53,131.69 points in the morning trade.

The Sensex is trading in the positive after five straight sessions of losses. The index had slumped 1158.08 points or 2.14 percent on Thursday.

The broader Nifty 50 of the National Stock Exchange was trading 241.90 points or 1.53 percent higher at 16,049.90 points against its previous day's close at 15,808 points. The Nifty had lost 359.10 points or 2.22 percent on Thursday.

Titan surged 4.59 percent to Rs 2142.35. Sun Pharma surged 4.12 percent to Rs 885.20. Mahindra & Mahindra jumped 3.43 percent to Rs 894.55. Hindustan Unilever climbed 3.37 percent to Rs 2213.10.

The index heavyweight Reliance Industries was trading 2.73 percent higher at Rs 2466.60. State Bank of India was trading 1.17 percent higher at Rs 467.85.

Only three of the 30 scrips that are part of the Sensex were trading in the red. NTPC slipped 1.68 percent to Rs 146.10. Bharti Airtel fell 1.19 percent to Rs 697.35. ICICI Bank was also trading in the red.