Share Market Today: Indian stock markets fell off from day’s top but managed to conclude higher on Friday with Sensex zooming 145 points and Nifty finishing above 11,000-level with shares of heavyweight trio RIL, Infosys and ICICI Bank leading the gains. The Indian rupee marked a big recovery in the afternoon forex dealings after plunging to an all-time low vs USD. Shares of Bajaj Auto fell 9% on weaker-than-expected Q1 FY19 results. Earlier in the day, Sensex surged more than 200 points to a high of 36,567.34, Mukesh Ambani-led RIL hit a new all-time high and Infosys rallied over 3% intraday while most shares of the IT companies rose on rupee’s weakness.
A subdued Wall Street closing and the uncertainty over the no-confidence motion in Lok Sabha is weighing on the market sentiments today. Most Asian stock markets retreated on Friday after China allowed its yuan currency to slide further, stoking concerns Beijing’s currency management could become the next flash point in a fierce trade conflict with the United States, Reuters reported.
Equity markets in the region were hit after China’s central bank lowered its midpoint for the yuan for the seventh straight trading day and to its lowest in a year, the report added. Meanwhile, crude oil prices surged on Friday with Brent crude oil nearing $73 per barrel.