Sensex jumps 150 points, Nifty tops 11,900 on firm global cues
Among major Sensex gainers were Tata Motors that advanced 3.11 per cent to Rs 172.20.
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.