The Indian equity indices opened higher on Friday, reversing a three-day downtrend, after fears emanating from the US-China trade wars receded, lifting sentiment across globe.
The BSE Sensex jumped over 157 points to start at 37,278.89 in the opening trade. At 9.16 am, the 30-share BSE index surged higher by 175 points to trade at 37,296.25.
The NSE Nifty50 also started higher at 11,271.30, rising by 36.95 points. The 50-share broader NSE index also rose further by nearly 71 points to trade at 11,305.20.
HDFC twins, Reliance, consumer, metal, auto, financial and bank stocks particularly surged in volume, lifting indexes.
Upward movement in midcaps also helped indexes. The BSE MidCap traded 0.71 percent higher, while the Nifty MidCap gained by 0.62 percent. BSE LargeCap moved higher by 0.87 percent.
Barring IT, all sectoral indices on the NSE traded in the green. Nifty Fin Service, metal, pharma, PSU banks rose by up to 2.10 percent. IT dipped 0.30 percent as the Indian rupee gained in strength against the US dollar.
On the BSE as well, only IT and teck traded negative, while energy, healthcare, FMCG, metal and oil & gas surged the most.
Axis Bank, Tata Steel, ICICI Bank, Hindalco, M&M and Asian Paints were top gainers, rising by up to 3.48 percent.
Yes Bank shares witnessed a sharp fall after RBI asked CEO Rana Kapoor to step down on January 31, 2019. Yes Bank hit 52-week low, after plunging nearly 30 percent.
Apart from Yes Bank, Tech Mahindra, Vodafone Idea, Infosys, TCS, Bharti Airtel and Hindustan Unilever, traded weak slipping by up to 0.86 percent.
The Indian rupee opened stronger at 71.85 against the US dollar. On Wednesday, the home currency had closed at 72.37 against the greenback.
The 10-year government bond yield opened at 8.02 percent against its previous close of 8.07 percent.
Asian equity indices rose tracking Wall Street gains. Japan's Nikkei 225 index rose 0.88 percent, while Hong Kong's Hang Seng jumped 0.92 percent.Also, catch all the action and updates in our
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