Sensex Soars Over 400 Points In Early Trade, Nifty Touches 11,350-Mark

Equity benchmark BSE Sensex rallied over 400 points on Friday following positive cues from global markets on hopes of a trade deal between the US and China. The 30-share index was trading 414.38 points, or 1.09 per cent, higher at 38,294.78 at 0940 hours. Similarly, the broader NSE Nifty jumped 116.15 points, or 1.03 per cent, to 11,350.70.

Top gainers in the Sensex pack during early session included Vedanta, Tata Steel, ONGC, SBI, Kotak Bank, Tata Motors, ICICI Bank, HDFC twins and Infosys, rising up to 4 per cent.

On the other hand, TCS was the top laggard shedding up to 3 per cent, after the largest software exporter on Thursday reported a tepid growth in net income for the September quarter at Rs 8,042 crore, and guided towards more challenges putting a big question mark over its ability to deliver the double-digit growth.

Tech Mahindra, Bharti Airtel, RIL and Sun Pharma were the other losers on the index, dropping up to 1 per cent.

In the previous session, the BSE barometer ended 297.55 points, or 0.78 per cent, lower at 37,880.40, and the Nifty fell 78.75 points, or 0.70 per cent, to close at 11,234.55.

Foreign institutional investors (FIIs) remained net sellers in the capital market, pulling out Rs 263.11 crore on Thursday, while domestic institutional investors bought shares worth Rs 502.67 crore, data available with stock exchange showed.

Market rallied in early session on Friday tracking gains in global markets after US President Donald Trump offered an positive assessment of US-China trade talks, traders said.