Mumbai, May 11 (IANS) The key Indian equity indices traded higher on Friday afternoon following broadly positive cues from the global equity markets and healthy buying in the metal, oil and gas and banking stocks.
According to market analysts, caution ahead of the assembly elections in Karnataka restricted further gains on the indices.
At 12.49 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 10,757.50 points, up 40.95 points or 0.38 per cent from the previous close of 10,716.55 points.
Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 35,287.99 points, traded at 35,366.74 points (12.50 p.m.) – up 120.47 points or 0.34 per cent — from its previous session’s close of 35,246.27 points.
The Sensex has so far touched a high of 35,389.40 and a low of 35,262.06 points.
However, the BSE market breadth was tilted towards the bears with 1,306 declines and 1,112 advances.
“Sensex and Nifty50 traded higher on Friday, tracking gains in global equities. Asian shares rallied after US inflation was seen reducing pressure on the US Federal Reserve to hike rates at the quick intervals,” said Dhruv Desai, Director and Chief Operating Officer, Tradebulls.
So far, the major gainers on the BSE were Asian Paints, Tata Steel, ICICI Bank, Kotak Mahindra Bank and HDFC while Bharti Airtel, Sun Pharma, Tata Motors (DVR), Hero MotoCorp and Bajaj Auto were the major losers.
On the NSE, the top gainers were Asian Paints, Hindustan Petroleum and Indiabulls Housing Finance. The major losers were Bharti Airtel, Sun Pharma and Bharti Infratel.