Sensex And Nifty Rise As Financials Gain, Blue-Chip Earnings In Focus

The NSE Nifty 50 index rose 0.51% to 11,958.5 by 0352 GMT, while the benchmark S&P BSE Sensex was up 0.44% at 40,730.8. Both indexes were headed for weekly gains of more than 1% each.



Indian shares rose on Friday, driven by gains in financials and IT stocks, with investors focused on talks for another U.S. stimulus package and earnings reports from domestic blue-chip companies due later in the day.


The NSE Nifty 50 index rose 0.51% to 11,958.5 by 0352 GMT, while the benchmark S&P BSE Sensex was up 0.44% at 40,730.8. Both indexes were headed for weekly gains of more than 1% each.


Asian peers were little changed as the final debate between U.S. President Donald Trump and Democratic challenger Joe Biden offered little to impress investors, with the focus remaining on signs of progress in U.S. stimulus talks.


In Mumbai, HDFC Bank Ltd rose 1.2% and ICICI Bank Ltd advanced 1.8%, boosting the Nifty, while IT major Tata Consultancy Services Ltd climbed 1.2%.


Investors were awaiting earnings reports from Nifty components Nestle India Ltd, Tech Mahindra Ltd and JSW Steel Ltd. Shares of those companies were marginally higher in early trade.


Source: http://www.businessworld.in/article/Sensex-And-Nifty-Rise-As-Financials-Gain-Blue-Chip-Earnings-In-Focus/23-10-2020-334690/

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