Indian stock markets opened on a positive note on the week's last session on fresh buying by investors as the July derivatives contracts started on a strong note amid recovery in the rupee, reported Press Trust of India. At 1.11, Sensex traded 293 points higher at 35,331. The NSE's Nifty rose 95 points, or 0.9 percent, to trade at 10,685. Brokers said building up of bets following the beginning of the July futures and options (F&O) series coupled with a firming trend at other Asian markets and overnight gains at Wall Street influenced trading sentiment here. Besides, the rupee recovering from its record low and easing crude oil prices supported the recovery, they added, PTI reported.
The top gainers among sensex stocks were Tata Steel (2.36 percent), ONGC (2.11 percent) and State Bank of India (SBI: 2.36 percent). Among sectoral indices, BSE oil & gas rose 1.92 percent and BSE metal jumped 2 percent. The major laggards were Axis Bank (0.91 percent), Mahindra & Mahindra (0.9 percent) and IndusInd Bank (1.11 percent).
On Thursday, INR hit its all-time low on rising crude oil prices and other reasons. However, the rupee recovered in the opening trade on Friday, while the government assured enough firepower of foreign exchange reserves to battle with rupee's decline.
Asian share markets rallied from nine-month lows on Friday, after China eased foreign investment limits, but underlying sentiment was dampened by worries over trade frictions a week before initial U.S. and Chinese tariffs were set to take effect.
MSCI's broadest index of Asia-Pacific shares outside Japan was 1 percent higher, while Australian shares were flat.
Japan's Nikkei stock index was down 0.3 percent, and South Korea's KOSPI was down slightly.
After falling to fresh two-year lows on Thursday, shares in China rebounded Friday. While analysts said the jump reflected technical factors, it was helped by news that Beijing would ease foreign investment curbs on sectors including banking, automobiles, heavy industry and agriculture.
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