The Sensex and Nifty made a recovery in the late afternoon trade on Friday, after extending losses for the bulk of the session. Sensex ended 96.66 points or 0.,27% down at 36,009.84, while the Nifty ended near the 10,800-mark. IndusInd Bank and Tata Motors shares emerged as the biggest losers in the Sensex, by slumping more than 3% each.
Asian stocks inched higher to one-month highs on Friday, after Federal Reserve Chairman Jerome Powell reiterated the U.S. central bank can be patient on raising interest rates further. But the rally’s momentum slowed partly as investors sought more clarity on whether the United States and China could make headway on their talks on trade as well as intellectual property (IP) rights, Reuters reported.
Wall Street extended its rally into a fifth straight day on Thursday in a session of whipsaw trading as investors responded to mixed comments by Federal Reserve Chairman Jerome Powell, while a warning from Macy’s pummeled retail stocks.