INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Domestic equity indices opened higher on Friday, tracking gains in global peers amid revived hopes of progress in US-China trade
talks.
The domestic currency edged higher amid firm foreign inflows which lent further support to the market sentiment
The rupee on Friday opened 15 paise higher at 69.18 against the US dollar due to some selling in American currency by banks and importers
At around 9:30 am, BSE Sensex was trading higher by 169 points, or 0.44 per cent at 38,714
Meanwhile, and its NSE counterpart Nifty surged 48 points, or 41 per cent to 11,618.
The ongoing rally could extend till 11,650-11,680 zone;
while on the flip side, levels of 11,400 could act as an immediate floor
Nifty internals suggests that recent rally has been broad-based compared to previous ones as 29 stocks from the index have outperformed
Nifty so far," YES Securities said in a report.
In the Sensex pack, 25 stocks traded in the green while five in the red
Vedanta was the biggest gainer, up 2.3 per cent, followed by YES bank, Tata Motors, Tata Steel, Sun Pharma and MM
On the other hand, IndusInd Bank was leading the loser pack, falling 1.14 per cent
Among other losers were Bajaj Auto, Bajaj Finance, Coal India, Powergrid and HDFC.
Reliance Industries was the biggest contributor and
IndusInd Bank was the worst drag.
At the same time, in the 50 pack index, 33 stocks advanced while 17 declined.
On the BSE sectoral front,
barring finance, realty and bankex all other sectors were trading higher
Metals, healthcare and telecom surged the most, gaining 1.57 per cent, 1.24 per cent and 1.20 percent respectively.
Furthermore, BSE Midcap
and BSE Smallcap were trading higher by 0.61 per cent and 0.50 per cent, respectively.
Foreign portfolio investors (FPIs) bought Rs 3,595
crore worth of domestic stocks on Thursday, data available with NSE suggested
DIIs were net sellers to the tune of Rs 2,080 crore, data suggested
On the global front, MSCI's broadest index of Asia-Pacific shares
outside Japan edged up 0.1 per cent while Japan's Nikkei rose 1 per cent.
