Sensex jumps over 200 points; TechM rallies 5 pc
Domestic equity benchmark BSE Sensex advanced over 200 points in early session on Friday, led by gains in index heavyweights Infosys and RIL, amid positive cues from global markets.
After rising 223 points, the 30-share index was trading 164.05 points, or 0.45 per cent, higher at 36,808.47 at 0930 hours, while the broader Nifty rose 44.15 points, or 0.41 per cent, to 10,892.05.
In the previous session on Thursday, the BSE barometer ended 80.32 points, or 0.22 per cent, lower at 36,644.42, while the Nifty settled 3.25 points, or 0.03 per cent, higher at 10,847.90.
Tech Mahindra was the biggest gainer in the Sensex pack in early trade on Friday, rallying over 4.70 per cent, after the company announced expansion of its strategic multi-year collaboration with AT&T.
Other gainers included Tech Mahindra, Bharti Airtel, Axis Bank, NTPC, Axis Bank, ONGC, Tata Motors, Infosys, PowerGrid and RIL, rising up to 1.95 per cent.
On the other hand, Sun Pharma, Yes Bank, HDFC duo and HCL Tech slipped up to 2.47 per cent. 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.
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.
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 per cent 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.
