This Article is From May 11, 2018

Sensex Jumps Over 100 Points, Nifty Above 10,750; Asian Paints, HPCL Among Top Gainers

Top gainers on the 50-scrip NSE index were Asian Paints, Hindustan Petroleum, and Indiabulls Housing Finance.

Sensex Jumps Over 100 Points, Nifty Above 10,750; Asian Paints, HPCL Among Top Gainers

Thirty two stocks on the Nifty were trading in the positive zone

The stock markets started Friday's session on a higher note, with the BSE Sensex rising 143 points to touch an intraday high of 35,389. The National Stock Exchange (NSE) benchmark index, Nifty, went up 46 points to trade above the key 10,750 level. Gains were led by energy, metal and finance stocks, with the NSE sectoral indices trading 0.7-0.9 per cent higher in afternoon. Thirty two stocks on the Nifty were trading in the positive zone. Top gainers on the 50-scrip NSE index were Asian Paints, Hindustan Petroleum, and Indiabulls Housing Finance, trading around 3-5 per cent higher.

Here are 10 things to know about Friday's trading session:

  1. ICICI Bank shares were trading 1 per cent higher in afternoon deals. Among finance stocks, HDFC, LIC Housing Finance were trading up to 1 per cent higher.

  2. Among energy stocks, BPCL, Indian Oil and GAIL India rose 1-2 per cent. Reliance Industries shares were trading 0.8 per cent higher.

  3. Fortis Healthcare shares were down 3 per cent, a day after the company's board accepted an investment offer worth Rs. 1,800 crore from the Hero Enterprise-Burman Family Office consortium. The cash-strapped hospital was a target of a fiercely contested bidding war. (Read more)

  4. Hero Enterprise is an investment company formed by Sunil Munjal, a member of the family that runs India's largest motorcycle maker Hero. The Burman Family Office is the private investment arm of the family that owns consumer goods company Dabur India.

  5. Bharti Airtel and Idea Cellular share fell sharply, a day after Reliance Jio Infocomm unveiled a new postpaid plan. Reliance Jio Infocomm, the telecom arm of Reliance Industries, introduced an unlimited domestic post-paid plan for Rs. 199 and international calling starting at 50 paise per minute, starting 15 May.

  6. Jio Pospaid series of plans are widely expected to trigger already high competition in the telecom sector, say analysts.

  7. Shares in other Asian markets jumped to near three-week top on Friday, taking cues from advances in US markets overnight after release of softer-than-forecast US inflation data tempered expectations for faster interest rate rises by the Federal Reserve this year.

  8. MSCI's broadest index of Asia-Pacific shares outside Japan rose for a second straight session to near three-week highs. Japan's Nikkei climbed 0.7 per cent while South Korea's KOSPI added 0.6 per cent. Australian and New Zealand shares were both up 0.2 percent.

  9. Overnight on Wall Street, the Dow rose 0.8 per cent, the Nasdaq Composite gained 0.89 per cent and the S&P 500 rose 0.9 per cent.

  10. Investor sentiment also got a small boost after US President Donald Trump said he had high hopes of "doing something very meaningful" to curtail North Korea's nuclear ambitions at a summit in Singapore next month.

(With agency inputs)

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