Domestic share markets rose on Friday amid buying interest in automobile and energy stocks, amid cautious gains in Asian markets as investors were optimistic about another stimulus package in the world’s largest economy. The S&P BSE Sensex index rose 252.63 points – or 0.62 per cent – to 40,811.12 at the strongest level recorded during the session. The broader NSE Nifty 50 benchmark went up to as high as 11,974.55, up 78.1 points – or 0.66 per cent – from its previous close. Analysts awaited earnings reports from more large cap companies for near-term cues.
At 1:08 pm, the Sensex traded 204.72 points – or 0.50 per cent – higher at 40,763.21 and the Nifty was up 58.30 points – or 0.49 per cent – at 11,954.75. Both indices were headed for weekly gains of more than 1 per cent each.
Reliance Industries, HDFC Bank and Maruti Suzuki India were the top boosts to Sensex, contributing more than 100 points to the gain in the index.
Equity markets elsewhere in Asia registered mild gains as the final debate between US President Donald Trump and Democratic challenger Joe Biden offered little to impress investors, with the focus remaining on signs of progress in US stimulus talks.
While Japan’s Nikkei 225 benchmark was last seen trading 0.33 per cent higher, China’s Shanghai Composite was up 0.17 per cent, Hong Kong’s Hang Seng up 0.69 per cent and South Korea’s KOSPI up 0.39 per cent.
HDFC Bank shares rose 1.2 per cent and ICICI Bank 1.8 per cent, boosting the Nifty, while IT major Tata Consultancy Services climbed 1.2 per cent.
Investors awaited earnings reports from Nifty components Nestle India, Tech Mahindra and JSW Steel. Shares of those companies were marginally higher in early trade.