Sensex Rises 250 Points, Nifty Hovers At 10,400-Mark, IndusInd Bank & Infosys Among Top Gainers

Asian stocks remained strong in early deals on Friday, tracking overnight gains in Wall Street. Investors are optimistic about the prospects of extra stimulus to counter the resurgence of Covid-19 cases.

(File Photo/ Getty)

New Delhi: Domestic equity markets open positive as the 30-stock S&P BSE Sensex was up 250 points to claim 35,114 levels, and the broader index Nifty50 index was hovering at 10,400-mark on Friday. IndusInd Bank and Infosys supported the gains in Sensex and rose 4 per cent and 2 per cent, respectively. ITC was rose 2 per cent ahead of its March quarter results. On the result front, around 247 companies including ITC, Coal India, and Glenmark Pharma will announce their March quarter earnings. Observers estimate ITC to report up to 14 per cent decline in its cigarette volumes due to hike in excise duty and Covid-19 induced lockdown. Meanwhile, Asian stocks remained strong in early deals on Friday, tracking overnight gains in Wall Street. Investors are optimistic about the prospects of extra stimulus to counter the resurgence of Covid-19 cases. Japan’s Topix index advanced 0.8 per cent, Hong Kong’s Hang Seng slipped 0.6 per cent, Australia’s S&P/ASX 200 Index gained 0.7 per cent, and South Korea’s Kospi rose 0.7 per cent. US stocks pared earlier losses to finish higher on Thursday, bolstered by a rally in bank shares. The Dow Jones Industrial Average jumped 299.66 points, or 1.18 per cent, to 25,745.60. The S&P 500 rose 33.43 points, or 1.10 per cent, to 3,083.76. The Nasdaq Composite Index increased 107.84 points, or 1.09 per cent, to 10,017.00, Xinhua reported. Ten of the 11 primary S&P 500 sectors closed higher, with financials up 2.71 per cent, outpacing the rest. Utilities sank 1.22 per cent, the only declining group. Bank stocks surged after the Fed and four regulatory agencies announced they were going to change a rule that has limited banks' ability to make investments in such areas as hedge funds. The major averages were under pressure earlier in the session as data showed the number of Americans seeking unemployment benefits was higher than anticipated for a second straight week amid the Covid-19 pandemic. US initial jobless claims registered 1.48 million in the week ending June 20, following an upwardly revised 1.54 million in the prior week, the Department of Labor reported on Thursday. Economists polled by Dow Jones had expected Thursday's report to show 1.35 million initial claims. Watch: Chinese firm One Plus all set to launch their affordable TV range in India (With inputs from IANS)