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Home > Markets > Sensex zooms 428 pts; Nifty ends near 12,100
Markets
Sensex zooms 428 pts; Nifty ends near 12,100
By  
PTI   , Published : Dec 13, 2019, 4:08 pm IST | Updated : Dec 13, 2019, 4:08 pm IST

After hitting a high of 41,055.80 points, the 30-share BSE Sensex ended 428 points, or 1.05 per cent, higher at 41,009.71.

Axis Bank was the top gainer in the Sensex pack, rallying 4.21 per cent, followed by Vedanta 3.75 per cent, SBI 3.39 per cent, Maruti 3.20 per cent, IndusInd Bank 3.07 per cent and Yes Bank 2.87 per cent. (Photo: File/ AP)
Axis Bank was the top gainer in the Sensex pack, rallying 4.21 per cent, followed by Vedanta 3.75 per cent, SBI 3.39 per cent, Maruti 3.20 per cent, IndusInd Bank 3.07 per cent and Yes Bank 2.87 per cent. (Photo: File/ AP)

Mumbai: Market benchmark Sensex soared 428 points on Friday, tracking strong gains in global equities led by optimism over US-China trade deal and Boris Johnson's win in UK general elections.

After hitting a high of 41,055.80 points, the 30-share BSE Sensex ended 428 points, or 1.05 per cent, higher at 41,009.71.

Similarly, the broader NSE Nifty settled 114.90 points, or 0.96 per cent, higher at 12,086.70.

Axis Bank was the top gainer in the Sensex pack, rallying 4.21 per cent, followed by Vedanta 3.75 per cent, SBI 3.39 per cent, Maruti 3.20 per cent, IndusInd Bank 3.07 per cent and Yes Bank 2.87 per cent.

On the other hand, Bharti Airtel slipped 1.98 per cent, Kotak Bank 1.38 per cent, Bajaj Auto 0.88 per cent, Asian Paints 0.31 per cent, HDFC Bank 0.05 per cent and HUL 0.03 per cent.

According to traders, investors across the globe were enthused by reports of the completion of the first phase of US-China trade deal and UK Prime Minister Boris Johnson's stellar victory in the country's general election.

The Trump administration and China are close to finalising a modest trade agreement that would suspend tariffs that are set to kick in Sunday, de-escalating their 17-month trade war.

Reports suggest that US President Donald Trump has give his final approval to the deal.

Boris Johnson earlier in the day won a parliamentary majority in the UK's general elections, ending the uncertainty over Brexit.

According to Narendra Solanki, Head Fundamental Research (Investment Services) - AVP Equity Research, Anand Rathi Shares & Stock Brokers, Indian markets shrugged off the higher inflation numbers released post market on Thursday and ended in the green taking positive cues from Asian markets after news of US and China trade deal.

As per government data, rising food prices pushed the retail inflation in November to over three-year high of 5.54 per cent, while the industrial sector output shrank for third month in a row by 3.8 per cent in October.

Markets continued to edge higher on hopes of positive announcements by Finance Minister Nirmala Sitharaman at a press conference post-market hours, Solanki added.

Bourses in Shanghai, Hong Kong, Seoul and Tokyo soared up to 2.57 per cent.

Stocks in Europe were also trading significantly higher.

On the currency front, the rupee appreciated 5 paise against the US dollar to 70.78 (intra-day).

Brent futures, the global oil benchmark, rose 1.07 per cent to USD 64.89 per barrel.

end-of
Tags: 
bse, nse, sensex, nifty, stock markets, share markets, trade, trading
Location: 
India, Maharashtra, Mumbai (Bombay)
Latest From Markets
After swinging over 423 points intra-day, the 30-share BSE Sensex ended down by 304.26 points, or 0.73 per cent, at 41,253.74. (Photo: File | PTI)

Sensex tanks 304 points on last day of 2019; Nifty drops below 12,200

The 30-share BSE Sensex fell 108.21 points or 0.26 per cent to 41,449.79, and the broader NSE Nifty slipped to 12,227.75. (Photo: File | AP)

Sensex drops over 100 points amid thin global trade

Besides, weakening of the American currency in overseas market supported the rupee, while steady rise in crude oil prices and weak opening in domestic equities weighed on the local unit, forex traders said.

Rupee rises 8 paise to 71.23 against US dollar in early trade

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