Sensex, Nifty rise on financials, IT boost; Granules jumps 10%
Both the indexes are still set for their worst week since early-May, having fallen around 6% each up to Thursday’s close, on worries over the impact of surging cases of the novel coronavirus on the global economic recovery.
Indian shares rose after six straight sessions of losses on Friday, helped by gains in financial and information technology stocks, with sentiment aided by stronger Asian peers on hopes of U.S. stimulus.
The broader NSE Nifty 50 index rose 1.04% to 10,916 and the S&P BSE Sensex climbed 1.1% to 36,942.95 by 0348 GMT.
Both the indexes are still set for their worst week since early-May, having fallen around 6% each up to Thursday’s close, on worries over the impact of surging cases of the novel coronavirus on the global economic recovery.
Asian shares rose on Friday, while U.S. stocks ended higher on Thursday, helped by a tech-driven rally and on hopes of economic stimulus from the United States.
Shares of Granules India Ltd rose as much as 9.5% after a report said KKR, Bain Capital, Blackstone were in the race for a majority stake in the pharma company.
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