Sensex Jumps Over 400 Points; Nifty Climbs Above 10,500

Indian shares opened sharply higher on Friday as global trade tensions eased and oil prices tumbled to close at near seven-month low overnight, helping soothe investor concerns over inflation and fiscal slippage.

The benchmark 30-share BSE Sensex was up 422 points or 1.23 percent at 34,854 in early trade, while the broader Nifty index was up 130 points or 1.25 percent at 10,510.

HPCL rose over 1 percent despite its Q2 net profit missing Street estimates.

BPCL climbed 3.7 percent and IOC rose 3 percent after Brent crude future declined by 3.6 percent on Thursday to close at $72.77 a barrel.

Yes Bank shares jumped as much as 5 percent, IndusInd Bank rallied 3.6 percent and Bajaj Finance rose 1.3 percent.

Maruti Suzuki gained 2.5 percent after posting a marginal increase in October sales.

Hero MotoCorp jumped 4 percent after its October sales rose 16 percent.

Realty firm DLF advanced 2.3 percent after its quarterly profit surged 26 times.

Indraprastha Gas climbed 2 percent on news it would take over the supply of natural gas in Gurugram from Haryana City Gas Distribution Ltd.

Aarti Industries rallied 4.3 percent and Inox Leisure advanced 3 percent on fund raising reports.

Triveni Turbine soared 10 percent after its board approved a share buyback.

TCS was marginally higher after it acquired design company W12 Studios for an undisclosed sum.

Infosys, Tech Mahindra and Wipro were subdued as the rupee opened up by 35 paise at 73.10 per dollar, adding to the previous session’s gains.