0

0

0

0

0

0

0

0

0

This article is more than 3 year old.

Sensex surges over 300 points as bank stocks rally; Nifty above 10,850

Mini

Indian shares rallied on Friday, taking cues from Asia, after Wall Street ended volatile trade in the green, adding to the massive gains of the previous session.

Sensex surges over 300 points as bank stocks rally; Nifty above 10,850
Indian shares rallied on Friday, taking cues from Asia, after Wall Street ended volatile trade in the green, adding to the massive gains of the previous session.
Benchmark indices opened nearly half a percent higher with the Sensex reclaiming the 36,000 mark, after starting at 35,970.
The 30-share BSE index jumped more than 160 points, or 0.46 percent, largely led by HDFC Bank, HDFC, ICICI Bank, Reliance Industries and TCS. The broader 50-share NSE Nifty started firmly above 10,800, gaining nearly 47 points, or 0.43 percent, at 10,826.
Broader markets outperformed, with the Nifty MidCap index gaining 0.5 percent and banking major, Nifty Bank, advancing 0.75 percent. As many as 36 sectors advanced led by BSE Consumer Durables, which rose 1.13 percent, against 7 declining sectors. BSE Finance, Nifty Realty and BSE Bankex were other major sectoral gainers. Nifty PSE, Media, Metal and FMCG were mildly lower.
Among the top index gainers, Yes Bank surged nearly 2 percent, while Titan, Tata Motors, Sun Pharma and Tech Mahindra gained between 1.22 percent and 1.75 percent. HDFC and HDFC Bank along with Reliance Industries, L&T and ICICI Bank contributed most to index gains.
Shares of Coal India dipped 3.52 percent, leading the pack of losers on the Nifty. BPCL, NTPC, ONGC and HPCL declined between 0.16 percent and 0.62 percent.
The rupee gained nearly 30 paise to open at 70.06 per US dollar as investors sought sfafe-haven assets such as Japanese yen. On Thursday, the rupee tumbled by 29 paise to 70.35 against US dollar amid strengthening of the greenback even as crude oil prices eased.
Asian markets traded mixed with Japan's Nikkei shedding 0.36 percent, a day after indexes rallied nearly 4 percent. Hong Kong's Hang Seng was mildly up, while South Korea's Kospi climbed 0.67 percent.
Also, catch all the action and updates in our Market Live blog
.
Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
next story