Gains in banking, pharma and auto stocks pushed the markets higher.
Domestic stock markets moved sharply higher on Friday, amid gains in Asian peers on optimism about an end to the US-China trade conflict.
The S-P BSE Sensex index rose as much as 363.58 points to touch 40,650.06 in afternoon deals, and the broader NSE Nifty benchmark climbed to as high as 11,973.65, up 101.55 points from the previous close.
Gains in banking, pharma and auto stocks pushed the markets higher, however losses in metal and select consumer goods shares limited the upside.
Here are 10 things to know about the movement in the Sensex and Nifty today:At 12:48 pm, the Sensex traded 196.67 points - or 0.49 per cent - higher at 40,483.15 while the Nifty was up 58.55 points - or 0.49 per cent - at 11,930.65.Top percentage gainers on the 50-scrip index at the time were Bharti Airtel, Bharti Infratel, State Bank of India (SBI), UltraTech Cement and Tata Motors, trading between 1.74 per cent and 6.39 per cent higher.SBI, Reliance Industries and Bharti Airtel were the top contributors to the rise in Sensex.Market breadth however favoured losses, with1,090 stocks trading higher on the BSE against1,259 moving lower.
On the NSE, 861 shares advanced while 903 declined.Seven out of the 11 sectoral indices on the NSE traded in the positive territory, with the Nifty PSU Bankindex up at 3.70 per cent at that time.According to Saurabh Jain, assistant vice-president research, SMC Global Securities, there is some optimism coming in on a deal being brokered between the USand China.White House economic adviser Larry Kudlow said the world's two largest economies were in close touch via telephone, and an agreement could be reached soon.Vodafone Idea and Bharti Airtel rose, a day after the telecom companies reported huge losses in the July-September period on account of high provisions for outstanding government dues.Vodafone Idea on Thursday reported a net loss of Rs.
50,921.9 crore for the quarter ended September 30 - the biggest in the country's corporate history - after making provisions for outstanding government dues.Bharti Airtel reported a net loss of Rs23,044.9 crore for the second quarter of the current financial year.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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