The domestic equity and money markets opened in green on Friday morning tracking global cues. The BSE Sensex was trading over 120 points up at 34,835.42 in early trade, while the 50-share NSE Nifty index was up 44 points at 10,661.
The domestic equity and money markets opened in green on Friday morning tracking global cues. The BSE Sensex was trading over 120 points up at 34,835.42 in early trade, while the 50-share NSE Nifty index was up 44 points at 10,661.
Q4 earnings of YES bank led the gains, among the early gainers were Reliance, Indiabulls Housing Finance , Hindalcoand Asian Paints.
Shares of YES Bank on Thursday surged over 8 per cent, adding Rs 6,184 crore to its market valuation, after the company reported a rise of 29 per cent in standalone net profit for the March quarter of 2017-18. The stock soared 8.26 per cent to end at Rs 352.05 on BSE. During the day, it jumped 11 per cent to Rs 361.20.
On NSE, shares of the company advanced by 8.34 per cent to close at Rs 352.40. In terms of equity volume, 38.68 lakh shares of the company were traded on BSE and over 6 crore shares changed hands on NSE during the day.
All sectoral indices of BSE led by realty, banking and metal were in the positive zone, rising by up to 1.07 per cent.
The NSE Nifty jumped 60 points, or 0.56 per cent, to 10,677.80.
Shares of Reliance Industries and Maruti Suzuki were higher by 2.66 per cent and 1.28 per cent ahead of earnings, to be announced later in the day.
Other gainers include Axis Bank, Yes Bank, ICICI Bank, Adani Bank, Tata Steel, L&T, Tata Motors, SBI, Dr Reddy's, sun Pharma and Bajaj Auto, rising up to 3.66 per cent.
Brokers said investors were busy in creating new positions following the beginning of the May futures and options (F&O) series that led to the rally in the market.
Moreover, encouraging quarterly corporate earnings so far and data showing that domestic institutional investors continued their buying activity, buoyed sentiment.
A firming trend in the rest of Asia following overnight positive leads from the Wall Street on solid earnings and a rebound in technology stocks as the US bond yields pulled back, accelerated buying activity, they added.
Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 684.11 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 1,056.34 crore yesterday, provisional data showed.
Japan's Nikkei quoted 0.42 per cent higher while Hong Kong's Hang Seng gained 0.31 per cent in the early part but China's Shanghai Composite Index shed 0.22 per cent.
The US market ended 0.99 per cent higher yesterday.
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