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Sensex rises 100 points, Nifty nears 12,050 amid firm global cues

Volatility indicator India VIX punged 9.78 per cent to below 13 level.

ETMarkets.com|
Dec 06, 2019, 09.53 AM IST
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Globally, Asian stocks gained as investors took heart from Trump comment and US oil prices sat near 2-1/2-month highs after OPEC and other producers agreed to cut output.
NEW DELHI: Domestic equity indices opened with gains on Friday after US President Donald Trump said trade talks with China were "moving right along".

BSE Sensex was up 99 points at 40,879 in early deals while NSE barometer Nifty rose 23.85 points to 12,042.

Broader market indices were trading in tandem with their headline peers as Nifty Midcap gained 0.07 per cent to 16,991 while Nifty Smallcap advanced 0.19 per cent to 5,762. Nifty500 was up 0.18 per cent at 9,775.

Volatility indicator India VIX punged 9.78 per cent to below 13 level. It was trading at 12.90.

Sectoral indics were mixed with Nifty Media losing 0.47 per cent, Nifty PSU Bank 0.57 per cent, and Nifty IT 0.19 per cent. On the other hand, Nifty Pharma gained 0.47 per cent, Nifty Metal 0.45 per cent, Nifty Financial Services 0.38 per cent.

In the 30-pack Sensex, Tata Steel was the biggest gainer, rising 1.63 per cent to Rs 406.15. Its peer Vedanta advanced 1.12 per cent to Rs 144.05 while Reliance Industries was up 0.84 per cent at Rs 1563.


YES Bank was the biggest index loser, down 4.11 per cent at Rs 59.55 after Moody’s downgraded the credit rating of the company. It also assigned a negative outlook to the lender. ONGC and TCS were other losers on the index, each down nearly 0.7 per cent.

Globally, Asian stocks gained as investors took heart from Trump comment and US oil prices sat near 2-1/2-month highs after OPEC and other producers agreed to cut output.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5 per cent and Japan's Nikkei added 0.3 per cent.

Australian shares rose 0.2 per cent and South Korea's Kospi climbed 0.8 per cent, while China's Shanghai Composite and Hong Kong's Hang Seng indexes gained 0.1 per cent and 0.9 per cent, respectively.

Trump's upbeat tone in comments on Thursday was enough to spark buying, despite a lack of agreement between Washington and Beijing over whether existing tariffs should be dropped as part of a preliminary deal to end their trade war.

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