Mild gains in energy, automobile and metal stocks supported the markets
Domestic stock markets started the last trading session of the week on a positive note, backed by mild buying interest across sectors, amid gains in Asian peers. The S&P BSE Sensex index rose 0.60 per cent - or 220.32 points - to touch 36,692.00 at the strongest level recorded in early trade, after opening up 0.21 per cent at 36,547.75. The broader NSE Nifty 50 benchmark climbed as much as 0.58 per cent to 10,802.60, having started the day at 10,752.00 compared to its previous close of 10,739.95. Mild gains in energy, automobile and metal stocks supported the markets.
At 9:23 am, the Sensex traded 217.95 points - or 0.60 per cent - higher at 36,689.63, while the Nifty was at 10,800.05, up 60.10 points - or 0.56 per cent - from its previous close.
Analysts awaited more large cap companies to report their financial results for the April-June period.
Shares in other Asian markets moved higher with investors shrugging off an overnight fall in US equities, as the Donald Trump administration prepared to debate fresh economic stimulus to see the world's largest economy through its coronavirus outbreak
While MSCI's broadest index of Asia Pacific shares outside Japan was last seen trading 0.65 per cent higher, Japan's Nikkei 225 and China's Shanghai Composite indices were up 0.02 per cent each. Hong Kong's Hang Seng barometer was up 0.60 per cent, and South Korea's KOSPI gauge up 0.59 per cent.
The E-Mini S&P 500 futures were last seen trading up 0.26 per cent, indicating a positive start for US markets on Friday.
Overnight on Wall Street, the S&P 500, the Dow Jones Industrial Average and the Nasdaq Composite indices closed 0.34 per cent, 0.50 per cent and 0.73 per cent lower respectively, as concerns about the economic toll from rising coronavirus cases nationwide were heightened by data showing elevated levels of unemployment claims.
Attention is quickly turning to how the US might adopt further stimulus to help steer the world's largest economy through a worsening coronavirus pandemic.
On Thursday, the Sensex had ended 419.87 points - or 1.16 per cent - higher at 36,471.68, and the Nifty settled at 10,739.95, up 121.75 points - or 1.15 per cent - from its previous close.
