Stock markets showed some strength on the first session of the new derivatives July series yesterday, with the BSE Sensex gaining over 64 points to 30,921.61 as investors took to optimistic buying ahead of GST rollout, expecting some hiccups on the way in the short-term.
For the week, the Sensex recorded a fall of 216.60 points, or 0.69%, while the broader Nifty lost 54.05 points, or 0.56%.
FMCG, healthcare and consumer durable stocks led by ITC, Sun Pharma, Cipla and Dr Reddy hogged the limelight on the back of fresh round of buying by investors and domestic institutional investors, helping the key indices to reverse losses to close in the positive terrain.
The fag-end buying, spread over to a broad front, came in the face of start of July futures and options series in the derivatives segment, dealers said.
Despite opening lower, the 30-share Sensex stayed in the negative zone for the most part and touched a low of 30,680.66 as investors were seen trimming their positions despite beginning of July series in the derivatives segments.
The gauge finally settled higher 64.09 points, or 0.21%, at 30,921.61. The index had gained 23.20 points in the previous session.
The 50-share NSE Nifty too ended higher by 16.80 points, or 0.18%, at 9,520.90, after touching a low of 9,448.75 and a high of 9,535.80.
ITC gained the most, up 4%, to Rs323.85, followed by Sun Pharma 2.97% and Tata Steel 1.80%.
Other gainers were Cipla (1.76%), Dr Reddy’s (1.59%), PowerGrid (1.40%), TCS (1.27%), Axis Bank (0.86%), Kotak Bank (0.75%) and Infosys (0.60%). 
However, market heavyweight RIL fell 0.91% to Rs1,380.25, while Hero MotoCorp went down 1.25% to Rs3,672.65 and ICICI Bank fell 1.23%, to Rs290.10.
The broader markets too showed an upward trend with small-cap rising 0.66% and mid-cap edging up 0.63% as investors raised their bets. Central Depository Services (India) (CDSL) made a remarkable stock market debut today, listing at a premium of nearly 68% from the issue price of Rs149 and settled over 75% higher at Rs261.60. 
Foreign portfolio investors (FPIs) net sold shares worth Rs1,140.77 crore, while Domestic Institutional Investors (DIIs) bought shares worth Rs600.23 crore yesterday, provisional data showed.
Meanwhile the rupee pared all the losses and closed marginally stronger against the US dollar ahead of the rollout of goods and services tax due later.
The rupee closed at 64.58 a dollar, up 0.07% from its Thursday’s close of 64.63. The rupee opened at 64.72 a dollar and touched a low of 64.84 — a level last seen on 24 June.
The 10-year bond yield closed at 6.511%, a level last seen on June 12, compared to its previous close of 6.507%. Bond yields and prices move in opposite directions.
So far this year, the rupee has gained 5.1%, while foreign investors bought $8.40bn and $14.40bn in local equity and debt markets, respectively.
Asian currencies were trading higher as dollar extended losses with bonds as central banks worldwide shift towards a more hawkish tone.
Singapore dollar was up 0.19%, China Offshore 0.19%, Japanese yen 0.17%, Thai Baht 0.16%, Singapore dollar 0.16%, Philippines peso 0.14%, China Renminbi 0.09%. However, South Korean won was down 0.25%, Indonesian rupiah 0.14%, Taiwan dollar 0.1%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.72, up 0.1% from its previous close of 95.628.
US inflation remains in focus due later with the core PCE deflator, a favourite Federal Reserve measure.
Analysts expect the month-over-month number eased to 0.1% for May and the annual rate slowed to 1.4%. Personal income and spending are also expected to grow more slowly than the 0.4% rise in April, according to a Bloomberg report.