Key indices regained positive zone after opening lower amid volatility. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 80 points or 0.21% at 38,920.32. The Nifty 50 index was up 37.45 points or 0.33% at 11,486.70.
The S&P BSE Mid-Cap index was up 0.22%. The S&P BSE Small-Cap index was up 0.35%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1032 shares rose and 475 shares fell. A total of 70 shares were unchanged.
Meanwhile, the foreign ministers of India and China have reportedly agreed that troops of the two countries must quickly disengage from a border standoff, they said in a joint statement issued on Friday. The two Foreign Ministers agreed that the current situation in the border areas is not in the interest of either side. They agreed therefore that the border troops of both sides should continue their dialogue, quickly disengage, maintain proper distance and ease tensions.
Stocks in news:
Hindustan Aeronautics rose 0.19%. The company reported 73.67% slump in consolidated net profit to Rs 148.67 crore on 48.33% drop in total income to Rs 1,783.99 crore in Q1 June 2020 over Q1 June 2019.
ITI rose 2.49% after the company said that ASCON working group is expected to sign a contract for its ASCON Phase IV Project' with the company shortly. Value of the bid is approximately Rs 7,796 crore.
Hindustan Copper jumped 5.8% after the company reported 40.11% surge in consolidated net profit to Rs 29.69 crore on 37.93% rise in total income to Rs 441.38 crore in Q1 June 2020 over Q1 June 2019.
Jammu and Kashmir Bank rose 1.69%. The bank reported 70.28% slump in net profit to Rs 6.50 crore on 4.36% drop in total income to Rs 2,157.94 crore in Q1 June 2020 over Q1 June 2019.
National Fertilizers rose 4.12%. The company has recorded the total fertilizer sale of 23,81 Lakh MT in April-August, 2020 showing a growth of 16% compared to previous best of 20.57 Lakh MT recorded during the same period in 2019-20.
Jay Bharat Maruti fell 0.68%. The company reported consolidated net loss of Rs 21.04 crore in Q1 June 2020 as compared to net profit of Rs 7.85 crore in Q1 June 2019. Total income dropped 84.03% to Rs 70.77 crore.
MIRC Electronics rose 2.41%. The company reported consolidated net loss of Rs 10.74 crore in Q1 June 2020 as compared to net profit of Rs 0.88 crore in Q1 June 2019. Total income dropped 46.61% to Rs 95.08 crore.
Global Markets:
Overseas, Asian stocks are trading mixed on Friday in response to declines in technology stocks and growing concerns about another round of negotiations on the UK's departure from the European Union.
In US, stocks closed lower after a choppy trading session on Thursday as heavyweight tech-related stocks resumed their decline following a sharp rebound the previous session, while elevated jobless claims reminded investors of a difficult recovery ahead.
The number of Americans filing new claims for unemployment benefits hovered at high levels last week. Initial claims for state unemployment benefits totalled a seasonally adjusted 8,84,000 for the week ended September 5, matching the number of applications received in the prior week, the Labor Department said on Thursday.
In Europe, the U.K. government outlined on Wednesday how it plans to manage trade following its full breakup from the EU at the end of the year with two significant announcements. Firstly, it proposed legislation, called the Internal Market Bill. Secondly, the government said the U.K. would not follow EU rules for state aid. The U.K. is currently in a transition phase after it stopped being a member of the EU in January, but this will expire on December 31.
Back home, key equity benchmarks ended with robust gains on Thursday, boosted by rally in index heavyweight Reliance Industries. The barometer index, the S&P BSE Sensex, jumped 646.40 points or 1.69% at 38,840.32. The Nifty 50 index added 171.25 points or 1.52% at 11,449.25.
Foreign portfolio investors (FPIs) bought shares worth Rs 838.37 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 317.30 crore in the Indian equity market on 10 September, provisional data showed.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)