Sensex, Nifty jump as Wall Street rally supports upbeat mood

Indian shares clocked broad-based gains on Friday and were on course to end the week with a 2% gain, as global investor sentiment was boosted by a tech-driven rally that lifted the Nasdaq to a record closing high.

Every stock on India’s NSE Nifty 50 index was trading higher on Friday, led by a roughly 0.7% jump each in conglomerate Reliance Industries Ltd and HDFC Bank Ltd.

The Nifty 50 hovered around a recent five-month high, rising 0.84% to 11,407.25 by 0355 GMT, while the S&P BSE Sensex was 0.81% higher at 38,531.13.

Other Asian stock markets also bounced following Wall Street’s lead as investors bet technology stocks would ride out the crisis triggered by the COVID-19 pandemic.

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