Sensex, Nifty extend gains; 60 stocks hit 52-week high

Domestic indices were trading in the green on Friday after strong IIP numbers and an unchanged inflation coupled with sustained buying by domestic institutional investors kept the bourses aloft.

Nifty50 was 65 points up at 10,161 while BSE Sensex was trading 238 points higher at 32,420 around 11.30 am (IST).

Over 60 stocks, including Adani Transmission, Bata India and Bombay Burmah Trading Corporation hit fresh 52-week highs on NSE.

Other major stocks that hit fresh 52-week highs included Bharat Financial Inclusion, Britannia Industries, Dabur India, Havells India, Hindalco Industries, Bharti Infratel and Tata Steel.

On the contrary, stocks such as Bhagyanagar Properties, KSS, Reliance Home Finance, SBI Life Insurance Company, Sujana Universal Industries and TV Vision hit fresh 52-week lows in trade so far.

09.23 am: Sensex surges over 100 points; Nifty50 above 10,100; Airtel, Tata Steel top gainers
Benchmark indices opened on a firm note on Friday, thanks to upbeat economic data releases and TCS results that met market expectations.

At 9.30 am, the BSE Sensex was trading 155.77 points, or 0.48 per cent, higher at 32,337.99. The Nifty50 was trading at 10,139.85, up 43.45 points, or 0.43 per cent.

Fear gauge India VIX eased 1.38 per cent to 10.89, while smallcap and midcap indices trading up to 0.5 per cent higher.

Data released post market hours on Thursday showed that the index of industrial production (IIP) rose 4.3 per cent in August, reversing a contraction in June and faster than a 0.9 per cent rise in July, according to data released by Central Statistics Office on Thursday. Inflation based on the consumer price index (CPI) was at 3.28 per cent in September, unchanged from August, the statistics office said.

"Levels around 10,135-10,178, are the levels to watch out for and on the downside, 10,035-9,980 would be seen as immediate support levels," Angel Broking said in a note.

Shares of Bharti AIrtel rallied 6.36 per cent to Rs 425.50 on BSE. The Tata Group has agreed to sell its mobile business to Bharti Airtel for free, ending the salt-to-software conglomerate's long-standing attempts to rid itself of this loss-making venture while bolstering the market share and 4G airwaves capacity of the Sunil Mittal-led company.

Tata Steel gained 1.37 per cent to Rs 700.30. Reliance Industries gained 1.20 per cent to Rs 883 ahead of its quarterly earnings. ICICI Bank, HDFC Bank and HDFC added up to 1.20 per cent.

Adani Ports, Kotak Mahindra Bank and ONGC edged up to 0.41 per cent lower.