Sensex Gains Over 200 Points, Nifty Moves Above 12,200 In Early Trade
Gains across sectors - led by banking, IT and automobile shares - pushed the markets higher
Here are 10 things to know about the stock markets (Sensex, Nifty LIVE updates) today:
At 9:35 am, the Sensex traded 207.76 points - or 0.50 per cent - higher at 41,667.55, while the Nifty was up 69.40 points - or 0.57 per cent - at 12,244.05.
Top percentage gainers on the 50-scrip benchmark index at the time were Yes Bank, Tata Motors, Zee Entertainment, UPL, Bharat Petroleum and SBI, trading between 1.21 per cent and 6.99 per cent higher.
On the other hand, IndusInd Bank, Eicher Motors, Dr Reddy's, GAIL, Coal India and NTPC - down between 0.13 per cent and 0.57 per cent - were the only top Nifty laggards.
HDFC, HDFC Bank and ICICI Bank were the top contributors to the gain in Sensex, together accounting for a rise of nearly 70 points in the index.
Vodafone Idea shares were in focus, a day after the private sector telecom major reported its sixth straight quarterly loss. In a regulatory after market hours on Thursday, Vodafone Idea posted a loss of Rs 6,439 crore ($903.48 million) for the quarter ended December 31 as against Rs 5,005 crore for the corresponding period a year ago.
The government is due to release data on wholesale inflation - gauged by the Wholesale Price Index (WPI) - at noon.
Meanwhile, equities in other Asian markets registered mild gains, with MSCI's broadest index of Asia Pacific shares outside Japan last seen trading up 0.30 per cent. Japan's Nikkei 225 benchmark index however traded 0.52 per cent lower at the time.
The Chinese province at the centre of the coronavirus outbreak reported a record rise in deaths and thousands more infections using a broader definition on Thursday. Global shares eased as investors were spooked by a sharp rise in the number of coronavirus cases in China this week.
Still, there were glimmers of optimism as the director of the World Health Organization (WHO) told a news briefing that "we are not seeing dramatic increases in cases outside China".
On Thursday, the S&P BSE Sensex index had fallen 106.11 points - or 0.26 per cent - at 41,459.79 and the broader NSE Nifty benchmark settled at 12,174.65, down 26.55 points - or 0.22 per cent - from the previous close, as the markets declined after rising for two straight sessions.