Sensex closes 178 points higher, Nifty tops 11,600

Mumbai, Apr 5 The BSE Sensex finished 178 points higher Friday driven by increases in metal, realty and IT stocks in the midst of positive signs from the worldwide markets on hopefulness over the US-China exchange talks.

The 30-share Sensex record jumped 177.51 points, or 0.49 percent, to close at 38,862.23, while the more extensive NSE Nifty rose 67.95 points, or 0.59 percent, to 11,665.95.

Goodbye Steel was the greatest gainer in the Sensex pack, rising 3.36 percent, trailed by Vedanta, Bajaj Finance, TCS, IndusInd Bank, Infosys, ONGC, Kotak Bank, HDFC Bank, HDFC, M&M and ITC.

Then again, SBI, PowerGrid, Hero MotoCorp, NTPC, Sun Pharma, HUL, HCL Tech, Yes Bank and Asian Paints were among the top washouts, shedding up to 1.46 percent.

Market finished strong with wide broad-based gains post two days of consolidation supported by favourable global cues by virtue of advancement in US-China exchange talks, said Vinod Nair, Head of Research, Geojit Financial Services.

US President Donald Trump on Friday said the United States and China are near an exchange understanding and something "fantastic" could be declared in the following a month.

Top Chinese and US authorities are meeting in Washington to reach an agreement after the world's two greatest economies forced taxes on goods worth more than USD 360 billion.

"Metals and IT file beat given improvement in worldwide speculator conclusion and dollar quality. Mid and little tops were outflanking by virtue of relative esteem purchasing openings contrasted with huge tops. Proceeding, speculators spotlight will be on Q4 results season beginning one week from now," Nair included.

The BSE metal, realty, teck, IT, fundamental materials, money and oil and gas lists finished in the green, gaining up to 2.03 percent.

Broader indices too ended on a positive note, with the BSE Midcap and Smallcap rising up to 0.72 per cent.

Meanwhile, foreign institutional investors (FIIs) pulled out a net Rs 226.19 crore Thursday, while domestic institutional speculators (DIIs) net purchased values to the tune of Rs 1,206.16 crore, provisional data available with stock exchanges showed.

In Asia, Korea's Kospi inched up 0.14 percent, Japan's Nikkei climbed 0.38 percent and Topix increased 0.35 percent.

In Europe, Frankfurt's DAX was down 0.16 percent, while Paris CAC 40 rose 0.07 percent, and London's FTSE moved up 0.07 percent in early deals.

On the full scale front, the benchmark Brent rough prospects slipped 0.30 percent to USD 69.19 per barrel.

The rupee deteriorated 7 paise to 69.24 against the US dollar intra-day.