Markets recover on positive global cues

Mumbai: The Sensex and Nifty finished with smart gains on Friday, largely in tandem with global markets as hopes of a trade truce between the US and China buoyed investor sentiment.

After swinging more than 600 points in a volatile session, the 30-share Sensex ended 246.68 points, or 0.65 percent, higher at 38,127.08. The broader NSE Nifty rose 66.70 points, or 0.59 percent, to 11,301.25. During the holiday-shortened week, Sensex advanced 453.77 points or 1.20 percent, while the Nifty gained 126.50 points or 1.13 percent.

World equities rallied on Friday after US President Donald Trump offered a positive assessment of US-China trade talks. The positive global cues helped offset a lacklustre start to the earnings season domestically, brokers said.

Sectorally, BSE metal, IT, teck, realty, FMCG, telecom, auto, finance and industrials indices ended up to 2.44 percent higher. Oil and gas, energy and utilities lost up to 0.41 percent. Broader BSE midcap and smallcap indices followed the benchmarks, ending up to 0.38 percent higher. The Indian rupee appreciated marginally to 71.03 against the US dollar intra-day.