Mumbai: The benchmark indices are trading rangebound, with gains in Maruti, Infosys, Larsen & Toubro, Hindustan Unilever, and Mahindra & Mahindra.
The S&P BSE Sensex was trading around 38,700 levels, with Vedanta Limited, Tata Steel, Tata Motors, Mahindra & Mahindra Ltd, and Maruti among the top gainers.
Nifty50, on the other hand, is trading 0.21 per cent higher and slightly below the 11,600 levels.
The broader market was outperforming the benchmark indices with the S&P BSE MidCap index gaining nearly 1 per cent, to trade around 15,470 levels, while the S&P BSE SmallCap index was testing 15,000 levels.
Among sectoral indices, the Nifty Metal index was trading 2.20 per cent higher while the Nifty Pharma was trading 1.49 per cent higher.
SBI Life Insurance shares slipped 6 per cent to Rs 577 on the BSE in early morning trade on reports that BNP Paribas Cardif had sold its stake in the company through the open market. READ MORE
Shares of MSTC were locked in the upper circuit of 5 per cent at Rs 117 in intra-day trade on the BSE, after making a weak debut. The stock was listed at Rs 111, a 7.5 per cent below its issue price of Rs 120 on the BSE. It has hit intra-day low of Rs 110 so far. READ MORE
Asian shares posted narrow gains on Friday on revived hopes of progress in US-China trade talks.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 per cent while Japan’s Nikkei rose 1.0 per cent. The S&P 500 on Thursday gained 0.36 per cent and the Nasdaq Composite added 0.34 per cent.
Oil prices rose on Friday, pushed up by ongoing supply cuts led by producer club OPEC and US sanctions against Iran and Venezuela, which have given crude markets the biggest first-quarter price push since 2009.
