Sensex Gains Over 150 Points, Nifty Tests 10,900
The domestic stock markets traded firmly in the green on Friday, ahead of September quarter growth numbers scheduled to be released later in the day. The S&P BSE Sensex opened at 36,304.43 and the Nifty50 barometer of the National Stock Exchange (NSE) at 10,892.10. At 10:52 am, the 30-share Sensex was at 36,330.13, up 159.72 points or 0.44 per cent and the 50-scrip Nifty hit the crucial 10,900-mark before trading at 10,898.65, with a gain of 39.95 points or 0.37 per cent. Thirty out of 50 Nifty stocks traded with gains.
Gaining between 1.73-4.33 per cent, Yes Bank, Mahindra and Mahindra, Wipro, Zee Entertainment and Indiabulls Housing Finance were the top Nifty gainers.
In the sectoral landscape, gains were led by Nifty IT and Nifty Pharma indices which gained 1.03 per cent and 0.96 per cent respectively.
Later in the day, gross domestic product (GDP) data for July-September period will be released.
"Markets have been on a uptrend in November, with Nifty gaining 7-8 per cent from 10,100 levels. This is its highest gain in a month," Rahul Mishra, AVP (Derivatives), Emkay Global Financial Services, was quoted as saying in a report by news agency Press Trust of India.  Â
Rupee appreciation and crude oil prices provided a good support to the market, he added.
The rupee surged 21 paise to a three month high of 69.64 per dollar in early trade.
Crude oil prices extended gains on news that Russia is increasingly convinced it needs to reduce oil output along with the Organization of the Petroleum Exporting Countries. US crude gained 0.37 per cent to $51.64 a barrel, and Brent crude was up 0.42 per cent at $59.76 per barrel, reported news agency Reuters.
In global markets, Asian shares wavered as investors were on edge before a crucial weekend meeting between the Chinese and US presidents that could determine the course of a heated trade war over the next year. MSCI's broadest index of Asia-Pacific shares outside Japan wobbled between positive and negative territory in early trade, and was last up less than 0.1 per cent.
On Thursday, when the Sensex had closed at 36,170.41 and the Nifty50 at 10,858.70, foreign portfolio investors and domestic institutional investors were net buyers of shares worth Rs 823.47 crore and Rs 973.31 crore respectively, showed provisional NSE data. (With agencies inputs)
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