INSUBCONTINENT EXCLUSIVE:
Domestic equity market opened higher on Friday amid a strong economic reading in China, which eased some concerns over delays in the
Investors also took heart from a strong foreign inflow trend.
At 9.30 am, the 30-share Sensex was trading 78 points higher at 40,207 while
its NSE counterpart Nifty rose 16 points to 11,893
The broader market outperformed the headline peers, as the Nifty Midcap added 0.48 per cent to 16,899 and Nifty Smallcap gained 0.78 per
cent to 5,790.
Shares of IndianOil fell 3.3 per cent to Rs 141.95 after the oil marketing company reported 85 per cent drop in September
quarter profit at Rs 564 crore.
YES Bank slipped after seeing a spectacular rally on Thursday
The stock was down 1.7 per cent at Rs 69.25.
Tech Mahindra advanced 1.56 per cent to Rs 750.40 while IndusInd Bank added 2.5 per cent to Rs
1,344.10.
Bharti Airtel, which has been kept on a negative watch list by S-P, fell 2.2 per cent to Rs 366.
Globally, Asian shares reversed
early losses in early trade as an unexpected bounce in Chinese manufacturing activity offset some negativity cast by a Bloomberg news report
that raised doubts over whether the United States and China can reach a long-term trade deal.
Factory activity in China expanded at its
fastest pace in more than two years in October as export orders and production rose, a private business survey showed on Friday.
The
expansion, which beat expectations and contrasted with the dour results of an official survey Thursday, helped to boost Chinese blue chips,