Recovering from the sharp slump in the previous day, the Indian stock markets’ key indices, Sensex and Nifty, were trading around 2.3 per cent higher in the afternoon session on Friday supported by strong buying interest in metal, energy, auto and banking stocks.
The 30 stock S&P BSE Sensex was trading 1189.33 points or 2.25 per cent higher at 53,981.56 points at 12.52 pm against its previous day’s close at 52,792.23 points.
The Sensex has recovered a major part of the losses suffered on Thursday amid the global meltdown. The Sensex had lost 1,416.30 points or 2.61 per cent.
The broader Nifty 50 of the National Stock Exchange was trading 353.85 points or 2.24 per cent higher at 16,163.25 points against its previous day’s close at 15,809.40 points.
The Nifty had lost 430.90 points or 2.65 per cent on Thursday.
Dr Reddy’s Laboratories surged 7.71 per cent to Rs 4230.75. Nestle India soared 4.96 per cent to Rs 16899.30. Hindustan Unilever jumped 3.29 per cent to Rs 2338.05.
The index heavyweight Reliance Industries Limited was trading 3.19 per cent higher at Rs 2558.35.
L&T, IndusInd Bank, Sun Pharma, Kotak Bank, State Bank of India, Axis Bank, HDFC, Mahindra & Mahindra and Asian Paints were among the major Sensex gainers.
Only one of the 30 scrips that are part of the Sensex was trading in the red. Power Grid Corporation was trading 0.15 per cent down at Rs 228.15.