Markets make a firm opening led by metal stocks

All sectoral indices traded higher, except Nifty IT and Pharma which slid on the Indian rupee's appreciation by 24 paise in early trade.

Indian equity markets saw a firm opening on Thursday, thanks to the uptick in global markets on renewed optimism with regards to US-China trade relations.

The Sensex rose 219 points to trade above 38,000, while the Nifty was up by 61 points at 11,295 in opening trade. (9.23AM)

All sectoral indices traded higher, except Nifty IT and Pharma which slid on the Indian rupee's appreciation by 24 paise in early trade.

Nifty Metal rose the most owing to enhanced global sentiment amid high-level trade talks underway in Washington. Vedanta and Tata Steel were the top outperforming metal stocks.

On the other hand, Nifty IT fell owing to a stronger INR vs. USD.

Shares of TCS fell over 3% on reporting lower-than-expected numbers for Q2FY20. 

On the Nifty50, 40 shares advanced and 10 shares declined. 

India Vix was down 2.7% at 16.76.

Asian shares and US stock futures rose on Friday after US President Donald Trump said he would meet with China’s top trade negotiator, while the pound sterling retreated after rallying on revived hopes of a possible Brexit deal.

President Donald Trump said on Thursday that the first day of high-level trade talks with China was going "very well." Officials later said there was better-than-expected progress during the negotiations between the world's largest economies.

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