US President Donald Trump would meet with Chinese President Xi Jinping at the G20 summit later this month, and trade talks would restart after a recent lull. This led to some cheer in Dalal Street with benchmark indices adding close to 1 percent each.
Nifty is up 92 points and is trading at 11,784 while the Sensex jumped 324 points and is trading at 39,370 level.
Nifty Realty is the outperforming sector, up close to 2 percent led by Unitech, DLF, Godrej Properties, Oberoi Realty, Phoenix Mills and Sunteck Realty.
Metal stocks are also buzzing led by Tata Steel which jumped 3 percent followed by Hindalco Industries, Jindal Steel & Power, NMDC, SAIL, Vedanta, Hindustan Zinc, NALCO and Jindal Stainless.
From the banking space, the top gainers are Kotak Mahindra Bank, RBL Bank, Axis Bank, IDFC First Bank and IndusInd Bank.
Selective media stocks are buzzing in this morning session, the top gainers being Zee Entertainment, PVR, Inox Leisure, Hathway Cable and Sun TV.
Nifty Pharma is trading in the red dragged by Glenmark Pharma, Aurobindo Pharma, Piramal Enterprises and Dr Reddy’s Labs.
India VIX is down 2.67 percent and is trading at 14.21 levels.
The top gainers from the NSE include Tata Steel, Zee Entertainment, Indiabulls Housing Finance, Hindalco Industries and Kotak Mahindra Bank while the top losers are IOC, UPL, Hero MotoCorp, BPCL and Wipro.
The most active stocks are Indiabulls Housing Finance, YES Bank, Reliance Industries, Tata Steel and HDFC Bank.
258 stocks have hit 52-week low on BSE including Jet Airways, Jain Irrigation, Reliance Naval, Reliance Infra, Reliance Capital, IRB Infra, HDIL, Reliance Power, JP Associates, Kwality, Reliance Home Finance, Reliance Power, Manpasand Beverages, McLeod Russel, Mercator, Arvind, Punj Lloyd, Reliance Communications, Glenmark Pharma and YES Bank among others.
The breadth of the market favoured the declines as 856 stocks advanced and 783 declined while 453 remained unchanged on the NSE. On the BSE, 1016 stocks advanced, 950 declined and 107 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.