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    Sensex jumps 150 points, Nifty tops 11,900 on firm global cues

    Synopsis

    Among major Sensex gainers were Tata Motors that advanced 3.11 per cent to Rs 172.20.

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    The 30-pack Sensex was up 127 points in the opening trade at 40,414 while its NSE counterpart Nifty was up 32 points to 11,904.50.
    Domestic equity markets shrugged massive losses reported by telcos and opened with gains. The market took positives from the comment of White House economic adviser Larry Kudlow who said the United States and China are getting close to a trade agreement.

    The 30-pack Sensex was up 127 points in the opening trade at 40,414 while its NSE counterpart Nifty was up 32 points to 11,904.50. Broader market was also trading in the green with Nifty Midcap at 16,796, gaining 0.27 per cent. Nifty Smallcap edged 0.13 per cent higher to 5,692. NIfty 500 was up 0.27 per cent to 9,676.40.

    Most sectoral indices also gained in early trade with Nifty PSU Bank up 1.09 per cent at 2,405, pushed by gains in SBI (up 1.91 per cent), Canara Bank (1.85 per cent) and Bank of India (1.43 per cent).

    Among major Sensex gainers were Tata Motors that advanced 3.11 per cent to Rs 172.20 and ONGC gained 1.54 per cent to Rs 138.35. ONGC on Thursday reported a 24.21 per cent year-on-year fall in standalone profit at Rs 6,263.13 crore for the quarter ended September 30.

    Bharti Airtel that reported Rs 23,044 crore loss due to provisions was up 1.5 per cent to Rs 368.15. The company has set aside Rs 28,450 crore provisions towards adjusted gross revenue (AGR) dues.

    Voda Idea, that reported a record loss of Rs 50,921 crore for the September quarter, as it also made a provision for the AGR dues was down 6.44 per cent to Rs 2.76.

    Globally, Asian stocks jumped on Friday, propelled by a record S&P 500 finish and White House comments suggesting Washington and Beijing were close to striking a trade deal, reviving hopes the tariff war may near an end.

    White House economic adviser Larry Kudlow said on Thursday that Washington was getting close to a trade agreement with China, providing a fillip to investor confidence.

    That helped to lift MSCI's broadest index of Asia-Pacific shares outside Japan up 0.67 per cent. Japan's Nikkei added 0.76 percent and Australian shares gained 0.8 per cent. Chinese blue-chip shares gained 0.06 per cent shortly after the start of trade.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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    1 Comment on this Story

    Krishan Kumar Totlani348 days ago
    Markets opened higher today tracking gains from Asian peers.The sensex was at 40,511 level up 224 points &
    the nifty was trading at 11,929-mark up 57 points short while ago.
    The Economic Times