Mumbai: Sensex and Nifty started trading with gains after volatile early trade on Friday. The continued inflow of foreign capital and relatively limited crude oil prices increased optimism in the stock market. BSE Sensex rose 33 points to 79,343.06 in early trade and NSE Nifty slipped 52.95 points to 24,477.40. Later, both the major indices regained momentum. Sensex started trading with a gain of 443.87 points at 79,760.10 points and Nifty started trading with a gain of 81 points at 24,612.85 points.
More than four percent rise in Mahindra & Mahindra shares
Among the 30 companies included in the Sensex, shares of Mahindra & Mahindra rose by more than four percent. The company's consolidated net profit in the July-September quarter increased by 25 percent to Rs 4,587.88 crore, which has led to a rise in its stock. Shares of Titan, HCL Tech, Tata Consultancy Services, Infosys and Bharti Airtel also rose. At the same time, shares of Asian Paints, Power Grid, Bajaj Finance and Bharat Electronics remained in decline.
Fall in Asian and American markets
In Asian markets, South Korea's Kospi, Japan's Nikkei 225, China's SSE Composite and Hong Kong's Hang Seng are trading with significant decline. American stock markets closed with a heavy fall on Thursday. The Nasdaq Composite slipped 5.52 percent, the S&P 500 lost 4.36 percent and the Dow Jones Industrial Average was down 3.44 percent.
Market supported by FII buying
The price of international oil standard Brent crude oil was up 2.35 percent at $ 100.6 per barrel. According to stock market data, foreign institutional investors (FIIs) had bought shares worth Rs 14,974.68 crore on Thursday. On Thursday, the Sensex closed with a rise of 2,008.61 points or 2.60 percent and the Nifty closed with a rise of 576 points or 2.40 percent.
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