Sensex jumps over 200 pts; Nifty reclaims 11,000

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Mumbai: Domestic equity benchmark BSE Sensex jumped over 200 points and the Nifty reclaimed the 11,000 level in early trade on Friday led by gains in financial and energy stocks amid positive global cues.

The 30-share index was trading 205.70 points, or 0.55%, higher at 37,274.63 at 0930 hours, while the broader Nifty rose 61.35 points, or 0.56%, to 11,009.65.

In the previous session, the BSE barometer ended 382.91 points, or 1.02%, lower at 37,068.93, and the Nifty shed 97.80 points, or 0.89%, to finish at 10,948.30.

Top gainers in the Sensex pack in early trade on Friday included Tata Steel, Vedanta, TCS, Yes Bank, ONGC, Tata Motors, HDFC twins, SBI, IndusInd Bank and ICICI Bank, rising up to 3%.

On the other hand, TechM, HCL Tech, TCS, Bharti Airtel, Infosys and Asian Paints fell up to 1%. Investor sentiment recovered tracking firm cues from global markets, traders said.

Bourses in Shanghai, Hong Kong, Korea and Japan were trading on a positive note in their respective late morning sessions.

Exchanges on Wall Street too ended in the green on Thursday.

Market is also awaiting the government’s official estimate of GDP growth for Q1 FY20 to be released later in the day.

Meanwhile, the Reserve Bank of India on Thursday played down deepening slowdown as just “soft patch mutating into a cyclical downswing”.

In the annual report for FY19, the central bank conceded that diagnosing the exact problems was “difficult”, but reiterated that the issues were not structural in nature.

Foreign portfolio investors sold shares worth a net of Rs 986.58 crore on Thursday, while domestic institutional investors purchased shares worth Rs 489.23 crore, provisional data showed.

The rupee, meanwhile, appreciated 11 paise against its previous close to trade at 71.68 in early session.

Global oil benchmark Brent crude was trading 0.17% higher at 60.59 per barrel.

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