Equity Markets Extend Gains, Sensex Trades Over 100 Points
Key Indian equity indices extended their gains for the second consecutive session on Friday, with the BSE Sensex gaining over 100 points.
According to market observers, easing geo-political tensions in the Korean peninsula, along with healthy buying in consumer durables, auto and IT stocks, added to the indices' upward trajectory.
Around 1 p.m., the wider Nifty50 Of the National Stock Exchange (NSE) rose by 38.80 points or 0.38 per cent to trade at 10,281.45 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,465.05 points, traded at 33,456.09 points -- up 104.52 points or 0.31 per cent from the previous session's close.
The Sensex has so far touched a high of 33,519.49 points and a low of 33,316.58 points during the intra-day trade.
The BSE market breadth was bullish with 1,235 advances and 1,229 declines.
Index heavyweights like Tata Consultancy Services, HDFC, Mahindra and Mahindra, Larsen and Toubro and Hero MotoCorp were the top gainers on the BSE.
"The benchmark traded higher on the opening minutes of trade... Positive prospects of easing political tensions in Korean peninsula can help markets gain in trade," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
On Thursday, value buying by investors, along with positive global markets on the back of easing of trade war fears, propelled the key indices.
The Sensex closed at 33,351.57 points, up 318.48 points or 0.96 per cent, while the Nifty50 rose by 88.45 points or 0.87 per cent to close at 10,242.65 points.