Equity indices log new highs, Reliance up 2 pc

Broad equity gauges logged new peaks during early hours on Friday with metal and infra stocks leading the rally.

At 10:15 am, the BSE S&P Sensex was up by 248 points or 0.47 per cent at 52,549 while the Nifty 50 edged higher by 77 points or 0.49 per cent to 15,815.

All sectoral indices at the National Stock Exchange were in the green with Nifty metal climbing higher by 1.2 per cent and auto by 0.7 per cent.

Among stocks, Coal India gained by 4.4 per cent to Rs 163.35 per share while index heavyweight Reliance Industries advanced by 2.2 per cent to Rs 2,225.

Among the other winners were Power Grid Corporation, ONGC, IndianOil Corporation, Bharat Petroleum Corporation, JSW Steel and Tata Steel.

However, those in the negative zone were Bajaj Finserv, Wipro, Hindustan Lever, Titan, ICICI Bank and Axis Bank.

Meanwhile, US bond yields fell to three month lows and a broad gauge of Asian shares rose as investors saw enough one-off factors in US consumer price data to back the Federal Reserve's conviction that rising inflation will be transitory.

MSCI's broadest index of Asia Pacific shares outside Japan ticked up 0.18 per cent. Japan's Nikkei gave up early gains to turn 0.11 per cent lower.

Seoul's Kospi was up 0.32 per cent and Hong Kong's Hang Seng index gained 0.53 per cent.

( With inputs from ANI )