Indian shares turned positive after a flat start on Friday, led by gains in financials and realty stocks.
At 12:35PM, the BSE Sensex was up 126.31 points, or 0.32 percent, at 39,107.74, and the Nifty 50 inched up 27.10 points, or 0.23 percent, at 11,751.85.
Sectors such as the Nifty Bank, realty and financial services advanced, with the Nifty PSU Bank index leading the gainers list. IT sector was down by 1.62 percent, so were other sectors such as the pharma and the FMCG.
The key Nifty50 gainers included NTPC, Bharti Airtel, Bharti Infratel, Tata Motors and Kotak Mahindra Bank, whereas TCS, HCL Technologies, Tech Mahindra, Britannia and Hindustan Unilever were among the laggards.
IT stocks fell on Friday, with the Nifty IT index slipping nearly 2 percent, after global IT major Cognizant reported lower-than-expected earnings for the March quarter, and also halved its revenue guidance for the year 2019.
McLeod Russel shares corrected 10 percent on reports that the Williamson Magor group company is selling three of its tea estates in Assam at an estimated value of a little over Rs 150 crore.
Shares of HUL were down about 2 percent ahead of its Q4 earnings later today.
Asian markets remained mixed during Friday afternoon trade as markets continue to mull on recent comments by US Federal Reserve Chairman Jerome Powell.
MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.1 per cent, trading in a tight band. Indices in Japan and China were shut and will resume trading from next Tuesday and Monday respectively.
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