Share market (File Photo)
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 per cent, higher at 37,274.63 at 09:30 hours, while the broader Nifty rose 61.35 points, or 0.56 per cent, to 11,009.65. In the previous session, the BSE barometer ended 382.91 points, or 1.02 per cent, lower at 37,068.93, and the Nifty shed 97.80 points, or 0.89 per cent, 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 per cent. On the other hand, TechM, HCL Tech, TCS, Bharti Airtel, Infosys and Asian Paints fell up to 1 per cent. 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 (RBI) 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 per cent higher at 60.59 per barrel.