Value buying lifts stock markets, telecom shares rise (Lead)

A day after witnessing a massive downslide, the Indian equity markets traded in the green during Friday’s post-noon session.

Accordingly, value buying along with positive global cues allowed markets to maintain their morning session’s gains.

Sector wise, healthy buying was witnessed in telecom, IT and healthcare stocks.

Globally, Asian stock markets also traded on a positive note.

The S&P BSE Sensex was trading at 37,216.03 around 12.50 p.m. higher by 662.43 points or 1.81 per cent from the previous close of 36,553.60.

It opened at 36,991.89 and has so far touched an intra-day high of 37,260.38 and a low of 36,730.52 points.

The Nifty50 on the National Stock Exchange traded at 10,988.45, higher by 182.90 points or 1.69 per cent from its previous close.

“Indian broader market has been able to sustain its opening gain. Indian Indices open higher on the back of positive global market clues,” said Yash Gupta, equity research associate, Angel Broking.

“We expect the market to be volatile on the back of the global market and we expect momentum in the pharma and IT sector to continue.”