Dalal Street cheered the return of foreign funds on Friday amid a rising rupee, falling crude oil prices and upbeat corporate earnings.

Dalal Street cheered the return of foreign funds on Friday amid a rising rupee, falling crude oil prices and upbeat corporate earnings. At 2:06 pm, the S&P BSE Sensex traded above the crucial 35,000-mark at 35,167, up 735.22 points or 2.14 per cent. The broader Nifty of the National Stock Exchange (NSE) was at 10,598.25, with a gain of 217.80 points or 2.10 per cent. At its day’s high, the Sensex surged as much as 759 points and the Nifty to 226.5 points. The intraday high of the Sensex so far is 35,190.20 and that of the Nifty 10,606.95.

Gaining between 4.23 per cent and 4.85 per cent, the top five Nifty gainers were Bharat Petroleum, Hero MotoCorp, Vedanta, Maruti Suzuki, and Indian Oil.
“Macros have shown improvement, and sentiment is slowly improving as well,” Anita Gandhi, whole-time director, Arihant Capital Markets, was quoted as saying in a report by news agency Reuters.
Forty five out of 50 Nifty stocks traded in the green while only three out of 30 Sensex shares were in the red.
Sensex heavyweights HDFC, HDFC Bank and Reliance Industries contributed the most to the gains.
Barring IT and pharma, all sectoral indices led by metals, banks and autos, traded with gains on the NSE.
Auto stocks were boosted by a solid set of October sales numbers. The Nifty Auto Index jumped 3.7 per cent to a more than two-week high.
Investor sentiment also got a boost as the rupee appreciated 31 paise to 73.14 against the dollar, according to a report by news agency Press Trust of India (PTI). IT stocks, however, bore the brunt as the Nifty IT index was one of the only two losers in the sectoral space.
On Thursday, foreign portfolio investors bought net equities of Rs. 348.75 crore, showed provisional NSE data.
Oil prices reversed earlier losses on Friday as hopes rose that the United States and China may resolve their trade disputes soon, easing concerns that an economic slowdown may weigh on fuel demand. However, Brent has fallen by around 12 per cent since the beginning of October, according to Reuters.
Domestic markets got also got support from global peers. Asian shares jumped to three-week highs and US equity futures rebounded. MSCI’s broadest index of Asia-Pacific shares outside Japan extended morning gains and was up 2.5 per cent by early afternoon at its highest level since October 10. (With agencies inputs)

Courtesy By :- NDTV