Sensex, Nifty trade higher; Nifty nears 10,800

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Mumbai, July 17 (ANI): Equity benchmark indices were up by nearly half per cent during early hours on Friday following a positive trend in Asian markets.

At 10:15 am, the BSE S&P Sensex was up by 170 points at 36,642 while the Nifty 50 edged higher by 64 points at 10,804.

Except for Nifty IT, all sectoral indices at the National Stock Exchange were in the positive terrain with Nifty metal up by 1.7 per cent, financial service and auto by 0.9 per cent each, and private bank by 0.7 per cent.

Among stocks, Tata Steel was the top gainer after moving up by 4.1 per cent to Rs 355.70 per share while JSW Steel gained by 3.9 per cent to Rs 209.05.

Adani Ports ticked up by 1.8 per cent, Bajaj Finance by 1.6 per cent, Tata Motors by 1.5 per cent and Hindustan Lever by 1.5 per cent. The other prominent gainers were Bharti Infratel, ONGC, GAIL and Titan.

However, IT stocks fell after rallying a day earlier with Infosys and Tata Consulting Services dipping by 1.5 per cent each, Wipro by 1 per cent and Tech Mahindra by 0.5 per cent.

Meanwhile, Asian shares eked out gains as hopes of more government spending around the globe quelled concerns about rising new coronavirus case numbers and worsening tensions between Washington and Beijing.

MSCI’s broadest index of Asia Pacific shares outside Japan advanced by 0.5 per cent while Japan’s Nikkei was almost flat.

In China, the CSI300 index climbed by 1.1 per cent as investors shrugged off reports that Washington is considering banning travel to the United States by all members of the Chinese Communist Party. (ANI)

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