Sensex ends 70.21 points high, Nifty closes at 11,895.30; Bharti Infratel, Bharti Airtel, SBI top gainers

Most of intraday gains of the benchmark indices were wiped out due to last hour selling on November 15. The Sensex closed 70.21 points up at 40,356.69, while Nifty ends 23.20 points up at 11,895.30. Bharti Infratel, Bharti Airtel, SBI, Zee Entertainment and Grasim Industries were among major gainers on the Nifty, while losers were IOC, Hero MotoCorp, BPCL, Maruti Suzuki and ITC.

In the morning, Sensex opened over 100 points higher at 40,408.20 from its Thursday`s close of 40,286.48. Strong buying was seen in PSU Bank. The Nifty PSU Bank index jumped over 4 per cent while auto and financial service stocks also gained.

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At 10:15 am, the BSE Sensex was up by 227 points at 40,514 while the Nifty 50 edged higher by 53 points to 11,925. Except for Nifty pharma and realty, all sectoral indices at the National Stock Exchange were in the green with Nifty PSU bank nudging higher by 3.4 per cent. 

Among stocks, State Bank of India gained by 2.9 per cent to trade at Rs 314.90 per share while ICICI Bank and Kotak Mahindra Bank were up by 0.8 per cent each. The other prominent gainers included Bharti Infratel, Bharti Airtel, Maruti, Tata Steel and Hindustan Lever. 

However, oil marketing major Indian Oil Corporation fell by 2.8 per cent and Bharat Petroleum Corporation by 1.1 per cent. Cipla, Titan, HDFC, NTPC, Bajaj Auto and Adani Ports too were in the negative zone.

Bharti Airtel recovered sharply after opening in the red. It`s scrips jumped over 5 per cent despite the company posting massive Q2 losses. Vodafone Idea hit lower circuit after it reported Rs 50,922 crore loss for the September quarter from Rs 4,874 crore in the year earlier.

On global front, Asian stocks jumped after the White House suggested that Washington and Beijing were close to striking a trade deal, reviving hopes the tariff war may near an end. Analysts, however, said that investor sentiment remained fragile after weak data from China reinforced concerns about the global economy. 

MSCI`s broadest index of Asia-Pacific shares outside Japan was up by 0.67 per cent while Japan`s Nikkei added 0.76 per cent and Chinese blue-chip shares gained 0.06 per cent. 

(With Agency Inputs)