Share market updates: Sensex up 200 points, Nifty above 10,850; Rupee gains against US dollar

Stock market LIVE updates: After opening higher on positive global cues, the Sensex and Nifty extended rally in the morning trade. Sensex is up more than 350 points to 36,160.54, while Nifty is trading above 10,850. Yes, Bank share price gained by more than 2.1% to Rs 182, while ICICI Bank shares zoomed 1.3% to Rs 360.20. The rally was being led by financials, pharma and auto stocks.

Asia stocks gained on Friday after Wall Street ended volatile trade in the green, adding to the big advances of the previous session, although lingering investor jitters helped support safe-haven currencies such as the yen. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent. It has fallen almost 4 per cent so far in December.

Brent crude oil prices jump

Oil prices jumped as much as 3 per cent on Friday to win back a chunk of the ground they lost in the previous session, but growth in U.S. crude stockpiles and ongoing concerns about the global economy kept markets under pressure. Brent crude was up $1.18, or 2.26 per cent, at $53.34 a barrel at 0219 GMT, having earlier risen as much as 3.1 per cent. It dropped 4.24 per cent, or $2.31, the day before to settle at $52.16 per barrel. U.S. West Texas Intermediate (WTI) crude futures, were at $45.62 a barrel, up 2.26 per cent, or $1.01, after earlier rising 3.6 per cent.

Lemon Tree Hotels Surges On Entering Into JV

Shares of the Delhi-based hospitality chain operator rose as much as 13.66 per cent, the most in over a month, to Rs 77.80.

Rupee gains against US dollar

The rupee strengthened marginally against the US dollar, tracking gains in its Asian peers as a government shutdown in the US weighs on the dollar. At 9.10am, the rupee was trading at 70.06 a dollar, up 0.42% from its Thursday’s close of 70.36. The rupee opened at 70.06 a dollar. The 10-year gilt yield was trading at 7.27% from its previous close of 7.276%. So far this year, the rupee has declined 8.85%, while foreign investors have sold $4.61 billion and $6.84 billion in the equity and debt markets, respectively.

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Stock Market News - Budget 2020 | Removal of exemptions in new tex regime to impact life insurers, MFs

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