Indian Benchmarks extended gains ahead of five states elections exit polls due later in the day, following appreciating rupee. Positive leads from the asian markets on optimism that the US and China may resolve their trade dispute and a mixed trend at other Asian bourses too influenced sentiments. Meanwhile, the rupee was trading higher by 30 paise at 70.55 against the American currency in early deals Friday. Among sectors indices, Bank index is trading nearly 1 per cent higher led by a rise in ICICI Bank and HDFC Bank.
Among key stocks, Shares of Power Finance Corporation (PFC) fell as much as 4.76 per cent to Rs 85.95 per share in morning trade on Friday after the Cabinet Committee on Economic Affairs (CCEA) Thursday gave an in-principle approval to the strategic sale of the Centre’s 52.63 per cent holding in REC to PFC, along with transfer of management control. On the other side, Shares of Jet Airways rose as much as 3.59 per cent in the early trade on BSE, after news reports suggested Etihad Airways of Abu Dhabi has offered to guarantee loans worth $150 million that Jet Airways needs to keep the airline operational.
At 11:38 hours, the 30-share benchmark index was trading at 35454.87 up by 142.74 points or by 0.4 per cent NSE Nifty was at 10627.1 up by 25.95 points or by 0.24 per cent. In the positive trade so-far, Sensex touched intraday high of 35553.46 and intraday low of 35415.71 The NSE Nifty touched intraday high of 10655.75 and intraday low of 10619.4.
The top gainers of the BSE Sensex pack were Kotak Mahindra Bank Ltd. (Rs. 1318.00,+11.55%), Asian Paints Ltd. (Rs. 1318.50,+1.81%), Infosys Ltd. (Rs. 677.55,+1.40%), ITC Ltd. (Rs. 274.50,+0.88%), Mahindra & Mahindra Ltd. (Rs. 717.00,+0.86%), among others.
The top losers of the BSE Sensex pack were YES Bank Ltd. (Rs. 163.50,-2.85%), IndusInd Bank Ltd. (Rs. 1540.00,-1.90%), NTPC Ltd. (Rs. 137.30,-1.33%), Coal India Ltd. (Rs. 237.70,-1.25%), Tata Steel Ltd. (Rs. 504.90,-1.20%), among others.
Among the sectors, FMCG index was at 11445.89 up by 78.36 points or by 0.69%. Kwality Ltd. (Rs. 9.55,+4.95%), Kaveri Seed Company Ltd. (Rs. 520.95,+3.77%), VST Industries Ltd. (Rs. 3188.05,+3.38%), DFM Foods Ltd. (Rs. 212.50,+2.53%), Mawana Sugars Ltd. (Rs. 47.90,+2.24%),.
On the flip side, Metal index was at 11411.35 down by -127.97 points or by -1.11%. Steel Authority of India (SAIL) Ltd. (Rs. 50.70,-4.34%), Jindal Steel & Power Ltd. (Rs. 145.00,-2.95%), NMDC Ltd. (Rs. 90.60,-1.79%), JSW Steel Ltd. (Rs. 300.80,-1.43%), Coal India Ltd. (Rs. 237.75,-1.23%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2350 , shares advanced were 949 while 1253 shares declined and 148 were unchanged.