Advances in banking, financial services and energy stocks led the upmove Domestic stock markets gave up most of early gains on Friday, as losses in IT, energy and fast-moving consumer goods stocks offset advances in financials.
The SP BSE Sensex retreated as much as 399.59 points from the day's high of 39,223.85.
The NSE Nifty - which advanced 118.5 points to hit 11,775.55 in first few minutes of trade - almost gave up all of the gains to 11,658.10.
The rupee appreciated by 34 paise in early trade to quote at 69.68 against the dollar.
Here are 10 things to know:At 11:11 am, the Sensex traded 245.77 points - or 0.63 per cent -higher at 39,057.16, while the Nifty was up 65.25 points - or 0.56 per cent - at 11,722.30.Market breadth favoured gains on Friday, with1,133 stocks advancing on the NSE in morning trade against 507 declining.
On the BSE, 1,260 stocks traded with gains against 726 that struggled with losses.Top gainers on the 50-scrip benchmark index at the time were Larsen Toubro, Zee Entertainment,Eicher Motors, Asian Paints, Hero MotoCorpand State Bank of India, trading between 1.96 per cent and 3.55 per cent higher.Larsen Toubro, ICICI Bankand HDFC Bank contributed the most to the advances on Sensex.Leads showed the Bharatiya Janata Party-led National Democratic Alliance (NDA) is ahead in 343 of the 542 seats, while the BJP has crossed the 300 mark.
In 2014, the party had won 282 seats, the NDA 336.Analysts say that a BJP victory has been factored in.Equities in other Asian markets stumbled to a four-month low on worries the US-China trade spat was developing into a more entrenched strategic dispute between the world's two largest economies, pushing investors to safe-haven assets.MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.2 per cent to a fresh four-month low, and was on track for a third straight weekly loss, down 1.0 per cent so far on the week.The Sensex and Nifty indexes had ended 0.76 per cent and 0.69 per cent lower, after retreating from record highs hit during the session.Chinese shares recovered slightly, with the benchmark Shanghai Composite up 0.2 per cent and the blue-chip CSI 300 rising 0.3 per cent, while Hong Kong's Hang Seng added 0.2 per cent.
Japan's Nikkei average dropped 0.7 per cent.(With inputs from Reuters)Election Results for Lok Sabha Election 2019 will be out on May 23.
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