Sensex makes a gap-up opening, extends gains to over 350 points

Nifty around 10,500, banks, automobiles, energy, infra in the green


It was a gap-up opening of indices on the last trading day ofthe week, with the Nifty surging past 10,450, while the Sensex is higher by over 350 points.

The Sensex is up 260.74 points or 0.76% at 34692.71, while the Nifty is higher by 83.60 points or 0.81% at 10464.10. The market breadth is positive as 438 shares advanced, against a decline of 83 shares, while 17 shares were unchanged.

Among sectors, banks, automobiles, energy, infra, metals and pharmaceuticals are in the green, while technology names are trading in the red. The Nifty Midcap index is higher by a percent.

Just after a promising start, equity benchmarks extended their gains with the Sensex soaring over 350 points, while the Nifty reached around 10,500.

By 09:32, the Sensex boadened its gains to reach 388.63 points or 1.13% at 34820.60, and the Nifty up 119.40 points or 1.15% at 10499.90.

The market breadth is positive as 1,194 shares advanced, against a decline of 253 shares, while 38 shares were unchanged.

Even at the pre-opening session, benchmark indices showed promise and opened higher with the Nifty nearing 10,500.

At 09:02 hrs IST, the Sensex was up 261.35 points or 0.76% at 34693.32, and the Nifty was up 116.70 points or 1.12% at 10497.20.

Falling crude oil prices is likely to keep oil marketing companies in focus. The rupee has opened higher by 35 paise at 73.10 per US dollar.

Gold prices were steady in early Asian trade on Friday, after rising about 1.5 percent in the previous session, while the dollar inched up ahead of the US payrolls data due later in the day.

Oil prices dipped on Friday as record crude output by the world’s top-three producers offset supply concerns from the start of US sanctions next week against Iran’s petroleum exports.

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