Equity indices in the green, banking stocks perform well

Mumbai (Maharashtra) [India], Nov 15: Equity benchmark indices were in the comfortable zone during early hours on Friday led by firm global cues.

At 10:15 am, the BSE S&P Sensex was up by 227 points at 40,514 while the Nifty 50 edged higher by 53 points to 11,925. Except for Nifty pharma and realty, all sectoral indices at the National Stock Exchange were in the green with Nifty PSU bank nudging higher by 3.4 per cent. Among stocks, State Bank of India gained by 2.9 per cent to trade at Rs 314.90 per share while ICICI Bank and Kotak Mahindra Bank were up by 0.8 per cent each. The other prominent gainers included Bharti Infratel, Bharti Airtel, Maruti, Tata Steel and Hindustan Lever.

However, oil marketing major IndianOil Corporation fell by 2.8 per cent and Bharat Petroleum Corporation by 1.1 per cent. Cipla, Titan, HDFC, NTPC, Bajaj Auto and Adani Ports too were in the negative zone.

Meanwhile, Asian stocks jumped after the White House suggested that Washington and Beijing were close to striking a trade deal, reviving hopes the tariff war may near an end. However, analysts said investor sentiment remained fragile after weak data from China reinforced concerns about the global economy.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up by 0.67 per cent while Japan’s Nikkei added 0.76 per cent and Chinese blue-chip shares gained 0.06 per cent.

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