Sensex Rises Over 100 Points, Nifty Firm Above 11,450 Amid Choppy Trade

Edited by Sandeep Singh (with inputs from agencies)

11 Sep 2020, 09:49 AM IST

Stock Market: Maruti Suzuki and Titan were the top boosts to Sensex

Domestic stock markets started Friday's session on a lacklustre note as global equities took a breather, amid dimming hopes about a quick economic recovery from the coronavirus pandemic. The S&P BSE Sensex index rose 138.2 points - or 0.36 per cent - to 38,978.52 at the strongest level recorded in the first few minutes of trade, having opened marginally up for the day at 38,866.19. The broader NSE Nifty 50 benchmark climbed to as high as 11,493.50, up 44.25 points - or 0.39 per cent - from its previous close.

At 9:28 am, the Sensex traded 113.65 points - or 0.29 per cent - higher at 38,953.97, while the Nifty was up 37.45 points - or 0.33 per cent - at 11,486.70.

Top percentage gainers in the Nifty basket of 50 shares were Bharti Infratel, Titan, Britannia, HDFC Life and Maruti Suzuki, trading between 1.10 per cent and 3.63 per cent higher.

HCL Tech, IndusInd Bank, Nestle, Eicher Mtoors and Larsen & Toubro, trading between 0.65 per cent and 1.20 per cent lower, were the top laggards in the index.

Maruti Suzuki and Titan were the top boosts to Sensex, whereas Infosys and Axis Bank were the biggest drags.

Overall market breadth was positive with an advance-decline ratio of almost 2:1, as 1,117 stocks on the BSE rose against 561 that fell.

Analysts awaited macroeconomic data to assess any signs of recovery from the damage caused by the COVID-19-triggered restrictions. Official data on industrial production will be released after market hours on Friday, and on consumer inflation in the country on Monday.

Equities in other Asian markets struggled to stem a bearish mood after US technology shares fell overnight, on growing doubts about stimulus in the world's largest economy and worries about their stretched valuations.

MSCI's broadest index of Asia Pacific shares outside Japan was last seen trading 0.05 per cent lower, while Japan's Nikkei 225 benchmark was up 0.30 per cent. The E-Mini S&P 500 futures traded 0.59 per cent higher indicating a positive start for Wall Street on Friday, a day after the three US benchmark indices tumbled 1.45-1.99 per cent each.

The European Central Bank's status quo on policy and weak US jobs data claims fuelled concerns that stimulus and high liquidity may not be enough to counter the damage caused by COVID-19 to world economy and business.