Sensex, Nifty Seen Higher At Open

Value buying, easing of 'trade war' fears lift equities after 6-day fall

Markets: Sensex rises 136 points; Nifty gains over 45 points

On a weekly basis, the barometer 30-scrip Sensitive Index (Sensex) of the BSE shed 739.8 points or 2.17 per cent to close at 33,307.14 points.

The Nifty was up 0.17 percent at 10,260 as of 0608 GMT, while the Sensex was 0.12 percent higher at 33,390.51.

The BSE market breadth turned bearish as 1,638 stocks declined as against 1,082 advances.

On Thursday, value buying by investors, along with positive global markets on the back of easing of trade war fears, propelled the key indices after six sessions of losses.

"Major Asian markets have closed on a positive note, while European indices like CAC 40 and FTSE 100 traded in the green".

Indian shares look set to open higher on Friday amid easing geopolitical tensions after North Korean leader Kim Jong Un had offered to halt nuclear and missile tests and expressed his desire to meet with U.S. President Donald Trump through South Korean national security adviser Chung Eui-yong. "Broad market indices like the BSE mid-cap and small-cap indices gained less, thereby underperforming the main indices", Jasani added.

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MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.56 percent.

Provisional figures from the stock exchanges showed that FIIs sold-off scrips worth Rs 280.74 crore, while domestic institutional investors (DIIs) purchased scrips worth Rs 131.07 crore during the week.

On the currency front, the rupee closed flat at 65.17 against the United States dollar.

On the other hand, the S&P metals index fell by 65.01 points, healthcare index by 33.36 points and the FMCG index by 21.38 points.

In the metals pack, SAIL tumbled 6.40 per cent, Jindal Steel 5.24 per cent, Tata Steel 4.66 per cent, Nalco 2.19 per cent, NMDC 1.85 per cent, Vedanta 1.59 per cent and Hindalco 1.26 per cent.

However, HCL Technologies (down 0.56 per cent), MindTree (down 0.26 per cent) and Infibeam Incorporation (down 0.20 per cent) remained the losers among the IT stocks.

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