The Indian market was trading higher around noon on Friday with the BSE Sensex at 37,125, up 56 points, at 2 pm and the Nifty at 10,959, up 10 points.
The Indian market was trading higher around noon on Friday with the BSE Sensex at 37,125, up 56 points, at 2 pm and the Nifty at 10,959, up 10 points. All Nifty50 sectoral indices were trading in the green with minor gains except Nifty PSU Bank and Nifty Auto.
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This week, the Nifty PSU Bank index has fallen nearly 2 percent, and remains the worst performer despite government's backing. Meanwhile, Vedanta, Tata Steel, Sun Pharma, Hindalco and ITC were the top gainers while Power Grid, Bharti Infratel, Coal India, NTPC and Indian Oil Corporation were the top laggards.
Gruh Finance shares rallied 8 percent on Friday on a report the country's largest mortgage lender HDFC is likely to sell 9.2 percent in the company for Rs 1,678 crore. As per The Economic Times report, the sale of 67.4 million shares is expected to happen at a floor price of Rs 243 to Rs 249 per share in the open market on Friday.
Adani Green Energy ltd shares surged over 10 percent on Friday, hitting the day’s high at Rs 47.85 per share. The stock gained value after the company announced on Thursday it would acquire ten solar energy assets from Essel Green Energy and Essel Infraprojects for Rs 1,300 crore. The total generating capacity of the energy of the solar energy assets is 205 MW.
Meanwhile, Asian shares jumped to a one-week high on Friday as the United States and China showed a willingness to resolve their trade dispute by returning to the negotiating table, though lingering recession fears tempered some of the enthusiasm.
MSCI's broadest index of Asia-Pacific shares outside Japan rose to the highest since August 23, but soon pared some of those gains after Chinese and Hong Kong stock markets turned negative. The MSCI index was last up 0.8 percent.
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