Intraday, the Sensex surged 758.23 points to 35,190.20, and the Nifty 50 soared 226.5 points to 10,606.95. Here are the latest updates from the markets

Benchmark indices BSE Sensex and NSE’s Nifty 50 advanced 2% on Friday led by gains in shares of auto and oil companies. Intraday, the Sensex surged 758.23 points to 35,190.20, and the Nifty 50 soared 226.5 points to 10,606.95. The rupee strengthened against the US dollar after crude oil prices declined. Auto shares advanced over positive October vehicle sales data, while falling oil prices boosted shares of oil marketing companies such as BPCL, HPCL and Indian Oil. The gains were however limited after PSU bank stocks fell dragged by Punjab National Bank, which reported a net loss for the third straight quarter.

In global markets, stocks extended gains on the back of fresh hopes for trade between the world’s two biggest economies after Bloomberg reported that US President Donald Trump is interested in reaching an agreement on trade with Chinese President Xi Jinping at the G20 summit in Argentina this month. Oil prices are set for the biggest weekly loss since February as fears over a supply disruption eased as the US was said to agree on giving waivers to eight nations to continue importing Iranian crude after sanctions.

2.48 pm IST
PSU bank stocks fall after PNB posts loss in Q2
Shares of PUS banks declined after Punjab National Bank a loss of Rs 4,532 crore in the quarter ended September due to substantial increase in provisions for bad debts, as against a loss of Rs 940 crore in the previous quarter and a profit of Rs 560 crore in the year-ago period. PNB shares fell as much as 8% to Rs 68.15 per share.

2.40 pm IST
Future Enterprises, Aditya Birla Fashion shares gain after Q2 results
Future Enterprises Ltd reported a net profit of Rs 6.99 crore in the quarter ended September 30, compared to a loss of Rs 1.94 crore a year ago. Revenue from operations rose to Rs 1,214 crore from Rs 1,111 crore in the same period last year. The stock jumped 5.23% to Rs 41.25 per share.

source: livemint.com