CNBCTV18 Opening Bell: Sensex, Nifty start positive on firm Asian cues; metal, auto stocks lead

Updated : August 30, 2019 10:05 AM IST

The BSE Sensex gained 104 points, or 0.28 percent, to 37,173 in the initial trade.

The NSE Nifty50 surged 41 points, or 0.37 percent, to trade at 10,989.

Broader markets also gained and slightly outperformed with the Nifty MidCap index surging 0.40 percent.

Indian shares started the September series on a firm note on Friday, tracking improved trade sentiment as Beijing hinted it won’t retaliate against the latest round of tariffs from Washington for now. Domestic investors awaited the country's gross domestic product (GDP) numbers for the June quarter, due after market hours today. A fall in global crude oil prices also aided the risk sentiment.

The BSE Sensex gained 104 points, or 0.28 percent, to 37,173 in the initial trade. The NSE Nifty50 surged 41 points, or 0.37 percent, to trade at 10,989.

Broader markets also gained and slightly outperformed with the Nifty MidCap index surging 0.40 percent. The banking gauge, Nifty Bank, rose 0.33 percent. Metal, energy, realty and CPSE were among other major sectoral gainers.

Among Nifty gainers, Tata Steel, Vedanta, JSW Steel, Hindalco and Indiabulls Housing Finance surged between 1 and 2.5 percent.

Adani Green Energy Ltd. (AGEL) shares rose over 7 percent, quoting Rs 46.55 per share. The stock gained value after the company announced yesterday it would acquire ten solar energy assets from Essel Green Energy and Essel Infraprojects for Rs 1,300 crore.

Bharti Infratel, HCL Technologies, Coal India, BPCL and ONGC were top Nifty losers, falling by up to 1.63 percent.

Meanwhile, the rupee opened higher against the US dollar at 71.77 on Friday, snapping a 2-day loss. The home currency closed at 71.80 on Friday.

Foreign investors pulled out Rs 986 crore on a net basis from equities on Thursday, provisional exchange data showed.

In debt markets, the yields on the 10-year government bonds were up 0.24 percent at 6.57 percent from the previous close of 6.55 percent. Bond yields and prices move in opposite directions.

Asian shares surged as China adopted a conciliatory tone towards the US despite the latest rounds of tariffs.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.4 percent but stayed near a recent 7-1/2 month trough. For the week, it is set for a small weekly loss.

Japan's Nikkei jumped 1 percent while South Korea's KOSPI index gained 1.3 percent and Australian shares rose 0.7 percent.

Also, catch all the latest market updates and developments with CNBCTV18.com's live blog.

-with inputs from agencies

CNBCTV18 Opening Bell: Sensex, Nifty start positive on firm Asian cues; metal, auto stocks lead

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