Equities gain over 2% amidst strong global trend
The benchmark equity indices gained over 2% each during the morning session on Friday as investors bought shares after the previous day rout that saw the indices close at six-month lows
Auto stocks were in the limelight with sector majors like M&M and Maruti SUzuki gaining strong ground as global crude prices came off the highs touched recently.
The 30-share Sensex was up 688 points or 2.03% at 11:35 a.m. with 26 stocks in the green. M&M, Yes Bank amd ITC were up over 4% each.
The broader NIfty was trading at 10,446.90, up 212.25 points or 2.07%. A strong surge in the global markets also lifted investor sentiments. The Hang Seng was up over 400 points while Nikkei also gained a marginal 81 points.
On BSE, the market breadth was also strong with more than 1,800 stocks advancing as against 446 declines. The broader indices like BSE Midcap and BSE Smallcap were up pver 2% during the first few hours of the trading session.