Sensex jumps over 200 points amid positive global cues; Tech Mahindra, Bharti Airtel among top gainers

  • After rising 223 points, the 30-share index was trading 192.89 points, or 0.53%, higher at 36,837.31 at 10 am

  • Tech Mahindra was the biggest gainer in the Sensex pack in early trade on Friday, rallying over 4.70%

  • Sun Pharma, Yes Bank, HDFC duo and HCL Tech slipped up to 2.47%

Domestic equity benchmark BSE Sensex and Nifty opened in the green and advanced over 200 points in early session on Friday, driven by gains in index heavyweights Infosys and RIL, amid positive cues from global markets.

After rising 223 points, the 30-share index was trading 192.89 points, or 0.53 percent, higher at 36,837.31 at 10 am, while the broader Nifty rose 51.45 points, or 0.47 percent, to 10,899.35 .

In the previous session on Thursday, the BSE barometer ended 80.32 points, or 0.22 percent, lower at 36,644.42, while the Nifty settled 3.25 points, or 0.03 percent, higher at 10,847.90.

Tech Mahindra was the biggest gainer in the Sensex pack in early trade on Friday, rallying over 4.70 percent, after the company announced expansion of its strategic multi-year collaboration with AT&T.

 Sensex jumps over 200 points amid positive global cues; Tech Mahindra, Bharti Airtel among top gainers

Representational image. Reuters

Other gainers included Tech Mahindra, Bharti Airtel, Axis Bank, NTPC, Axis Bank, ONGC, Tata Motors, Infosys, PowerGrid and RIL, rising up to 1.95 percent.

On the other hand, Sun Pharma, Yes Bank, HDFC duo and HCL Tech slipped up to 2.47 percent.

According to Sunil Sharma, chief investment officer, Sanctum Wealth Management, regular news flow from the RBI and the Finance Ministry have helped to stabilise equity markets lately.

"Markets continue to display resilience in holding on to important technical long term support," he said, adding that investors were further calmed by news of upcoming resumption of talks between China and the US.

Meawhile, Asian stocks tracked global peers and rose on Friday while safe havens such as government bonds and the yen were sold amid signs of easing U.S.-China trade tensions and as firm US economic data bolstered risk appetites, reported Reuters.

Bourses in Shanghai, Hong Kong, Japan and Korea were trading in the green in their respective late morning sessions.

On Wall Street too, stock exchanges ended significantly higher on Thursday.

Global equity markets welcomed news that the United States and China agreed on Thursday to hold high-level talks early in October, raising hopes for substantial progress in de-escalating the long, bitter trade conflict between the two.

The rupee, meanwhile, appreciated 12 paise against its previous close to trade at 71.72 in early session.

Global oil benchmark Brent crude was trading 0.26 percent higher at 61.11 per barrel.

On Thursday, foreign portfolio investors sold shares worth a net of Rs 561.17 crore, while domestic institutional investors purchased shares worth Rs 699.31 crore, provisional data showed.

With inputs from agencies

Updated Date: Sep 06, 2019 10:17:11 IST