BSE Sensex, NSE Nifty witness huge gains in early trade

Indian markets opened on the last day of the week with huge gains led by metal, banks and auto stocks as the trade tension between the United States and China eased.

The BSE Sensex was up 350.24 points or 0.86 per cent to 40,931.95 points, while the NSE Nifty rose to 91.55 points or 0.76 per cent to 12,063.35 points. 

On the last session, the 30-share index closed 169.14 points, or 0.42 per cent, higher at 40,581.71, while the Nifty rose 61.65 points or 0.52 per cent, to 11,971.80. 

Earlier, the US has agreed to remove some tariffs on Chinese goods and reduce others in exchange for Beijing's commitments to increase purchases of US farm products in 2020, claimed news agency Reuters. 

The US President Donald Trump also tweeted on Thursday that Washington is on the verge of a "big" deal with China.

In the 30-share-index, Tata Motors was the top gainer, rising up to 3.78 per cent. The shares of Vedanta, Yes Bank, Tata Steel, SBI, M&M, Axis Bank and RIL were also in the green in the Sensex-pack. Bharti Airtel was the biggest loser in the BSE Sensex, shedding up to 0.59 per cent. 

Miner Vedanta gained big in the early trade in Nifty 50 index, rising 4 per cent. 
 
In the early trade, the rupee continued its strong run and appreciated by 33 paise to 70.50 against the US dollar. 

Elsewhere, in Shanghai, Tokyo and Hong Kong, markets were trading higher due to positive cues from US-China trade truce.