Markets trade higher in morning session

Markets trade higher in morning session

Markets trade higher in morning session

Meanwhile, on a net basis, Foreign Portfolio Investors (FPIs) sold shares worth Rs 1628.23 crore, while Domestic Institutional Investors (DIIs) bought shares worth to the tune of Rs 1084.09 crore in Friday's trade, provisional data showed. Asian markets were also trading in the green as weaker-than-expected USA wage growth helped calm investor fears about rising interest rates and inflation. Earlier the gauge had lost 261.04 points in the previous two sessions.

The sensex registered intra day high and low at 35,061.56 and 34,977.14 points respectvely.

Asian markets ended mixed despite a strong closing on Wall Street as investors digested last week's trade talks between the United States and China, while USA jobs data eased fears of faster rate hike by the Federal Reserve. Meanwhile, the broad based NSE Nifty went up by 97.25 or 0.92% at 10,715.50 with 33 components posting rise.

Barring pharma and IT, all sectors contributed to the rally, with metal, oil & gas, consumer durables, bank, FMCG and auto at the driving seat.

Biggest gainers in the 30-share index were Mahindra & Mahindra (3.68%), Axis Bank (2.82%), Tata Steel (2.52%), ICICI Bank (2.30%), Hindustan Unilever (1.91%), and Reliance Industries (1.88%).

Brokers said buying by domestic institutional investors and retail investors amid a firm trend at other Asian bourses following strong closing on Wall Street led the markets higher. Crude oil prices rose by 0.75 per cent to $75.43 a barrel.

The US Dow Jones Industrial Average ended 1.39 percent and Nasdaq Composite Index closed 1.71 percent higher on Friday.

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