Key benchmarks pared gains in afternoon trade amid weak European cues. At 13:20 IST, the barometer index, the S&P BSE Sensex, was up 98.17 points or 0.27% at 36,422.34. The Nifty 50 index was up 11.60 points or 0.11% at 10,989.15. The Nifty was hovering below 11,000 mark.
The market breadth, indicating the overall health of the market, was weak. On BSE, 615 shares rose and 1839 shares fell. A total of 147 shares were unchanged.
Yes Bank (down 9.2%), Hero MotoCorp (down 5.23%), Bharti Airtel (down 4.58%), Tata Steel (down 4.48%), Vedanta (down 3.56%) and Bajaj Auto (down 3.25%), were the major Sensex losers.
HDFC (up 1.87%), State Bank of India (up 1.79%), Asian Paints (up 1.64%), Wipro (up 1.37%), HDFC Bank (up 1.33%), Axis Bank (up 1.09%), Adani Ports & Special Economic Zone (up 0.9%), Infosys (up 0.9%), Reliance Industries (up 0.89%), IndusInd Bank (up 0.8%) and ITC (up 0.8%), were the major Sensex gainers.
Overseas, European stocks were trading lower while Asian shares were mixed on Friday, as investors monitor political turmoil seen in Europe and overseas.
The moves in Japanese stocks came after the release of data that showed the country's unemployment rate fell 0.1% from the previous month to 2.4%. The country also saw an increase in its month-on-month industrial output in August, while retail sales in August was higher as compared to a year earlier.
In the Bank of Japan's release of its summary of opinions for its meeting earlier in September, the central bank said "the contrast between the favorable US economy and other economies is becoming more evident, mainly reflecting US trade policy, and uncertainties regarding their outlook have been heightening as well."
US stocks closed higher Thursday, with the S&P 500 and the Dow Jones Industrial Average snapping a multiday losing streak, as solid data bolstered confidence in the economy a day after the Federal Reserve raised interest rates for the third time this year.
Fed Chairman Jerome Powell said on Thursday that the US does not face a large chance of a recession in the next two years and the Federal Reserve plans to keep gradually raising interest rates.
In the latest US economic data, jobless claims rose less than expected in the latest week, remaining near multi-decade lows. Orders for durable goods rose 4.5%, faster than had been expected. US real gross domestic product for the second quarter rose at a 4.2% annualized rate, unchanged from the earlier estimate, the Commerce Department said. US pending home sales unexpectedly dropped in August, falling 1.8% in the latest example of weak housing data.
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