Markets extend rally, Sensex above 39,000

The BSE Sensex rose 38.01 points or 0.10 percent to 39,017.86 in mid-morning trade, while the NSE Nifty rose 34.95 points or 0.30 percent to 11,551.05. 

Markets extend rally, Sensex above 39,000

New Delhi: Markets opened in the green zone on Friday led by gains in pharma stocks amidst gains in Asian markets.

The BSE Sensex rose 38.01 points or 0.10 percent to 39,017.86 in mid-morning trade, while the NSE Nifty rose 34.95 points or 0.30 percent to 11,551.05. 

Major gainers in the Sensex pack were Sun Pharma, M&M, Tech Mahindra, HCL Tech, Asian Paint, ICICI Bank, Tata Steel, Axis Bank, TCS, NTPC, ONGC and Powergrid, rising upto 3.41 percent. On the other hand, major losers were HUL, Bajaj Finserve, Kotak Bank, Maruti, HDFC Bank, HDFC, Nestle, Bajaj Auto, Bajaj Finance, ITC, Infosys and SBI, falling upto 1.53 percent.

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The rupee strengthened by 33 paise to 73.33 against the US dollar in opening trade on Friday as weak American currency and positive domestic equities buoyed investor sentiment. At the interbank forex market, the domestic unit opened at 73.47 against the US dollar, then gained further ground and touched 73.33, registering a rise of 33 paise over its previous close.

MSCI`s broadest index of Asia-Pacific shares outside Japan looked set to end the week 1% ahead following two weeks of tech-led losses. It rose 0.2% on the day while market moves around the region were small. Japan`s Nikkei edged 0.1% higher. The ASX 200 was flat, while stocks in Shanghai, Hong Kong and Seoul rose between 0.2% and 0.4%, a Reuters report said.

In the previous session on Thursday, the 30-share BSE index ended 323 points or 0.82 per cent lower at 38,979.85. The NSE Nifty fell 88.45 points or 0.76 per cent to 11,516.10.