Sensex rallies over 400 points on strong global cues, falling crude prices

The 30-share sensex climbed 413.15 points, or 1.20 %, to quote at 34,845.15. The gauge had shed 10 points in Thursday’s volatile session.

The BSE benchmark Sensex Friday soared over 413 points to 34,845.15 and the NSE Nifty raced past 10,500 on widespread gains amid fresh foreign fund inflows, fall in global crude prices and rising rupee.

The BSE benchmark Sensex Friday soared over 413 points to 34,845.15 (HT File Photo)

Positive leads from most other Asian markets on easing concerns over the US-China trade war, too, buoyed sentiments here.

The 30-share Sensex climbed 413.15 points, or 1.20 %, to quote at 34,845.15. The gauge had shed 10 points in Thursday’s volatile session.

The NSE Nifty leaped 122.85 points, or 1.18 %, to 10,503.30.

Investor sentiment got a big push after Brent crude, the international benchmark, dropped below the USD 73-mark to quote at a seven-month low of USD 72.65 by falling 3.48 %, traders said.

Adding to the upbeat mood, strengthening rupee against the dollar and a firm trend at other Asian markets, tracking overnight gains at the Wall Street after US president Donald Trump said trade talks with China were “moving along nicely”.

The big gainers were Asian Paint, Yes Bank, Bajaj Auto, Hero MotoCorp, IndusInd Bank, Tata Motors, M&M, Maruti Suzuki, SBI, L&T, Axis Bank, ITC, Bharti Airtel, HUL, RIL, Kotak Bank and ICICI Bank, gaining up to 5.80 %.

Shares of state-run oil market companies such as HPCL, BPCL and IOC rose up to 3.76 %, largely supported by fall in crude prices in the global market.

All the sectoral indices led by auto, consumer durables and oil and gas were trading in the positive zone, with gains of up to 2.65 %.

Elsewhere in Asia, Hong Kong’s Hang Seng rose 2.37 %, Shanghai Composite Index was up 1.21%, Japan’s Nikkei gained 0.70 %, and Korea rallied 2.13 %.

The US Dow Jones Industrial Average had gained 1.06 % in Thursday’s session.