Sensex rallies 400 pts, Nifty50 hits 10,500 level; Asian Paints jumps 5%

NEW DELHI: Benchmark indices jumped in early trade on Friday on firm global cues. Heavyweights HDFC, ITC and Reliance Industries led the rally.

At 9.30 am , the BSE Sensex was trading 390.54 points, or 1.13 per cent, higher at 34,822.51. Nifty50 was trading 117.35 points, or 1.13 per cent, higher at 10,497.80.

“It remains to be a prudent strategy to keep focusing on individual stocks with a proper exit strategy,” said Sameet Chavan of Angel Broking.


YES Bank climbed 5.18 per cent to Rs 214.30. Asian Paints, Hero MotoCorp, IndusInd Bank and Bajaj Auto advanced 5 per cent, 3.88 per cent, 3.48 per cent and 3.43 per cent, resptecively.

Shares of irloskar Oil Engins jumped 4 per cent after the Kirloskar group received licence from the RBI to launch a NBFC, Kirloskar Capital. The group company said it will invest Rs 1,000 crore in the proposed NBFC, which will be a fully-owned subsidiary of Kirloskar Oil Engines.

DHFL stock was ruling 1 per cent higher aftwer the NBFC bought back about Rs 2,000 crore worth of commercial papers, or shortterm debt instruments, before their scheduled maturities in a move aimed at instilling confidence among investors.

Axis Bank, Hindalco, IndianOil, Power Finance Corporation, NTPC, Reliance Power, JSW Energy, Allahabad Bank, GCPL and Bata India are among dozens of companies, which will announce their quarterly results later in the day.
Data showed foreign portfolio investors (FPIs) bought Rs 194 crore worth of domestic stocks on Thursday. DIIs were net sellers to the tune of Rs 509 crore, data revealed.








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