Sensex surges to record high in late morning trade

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India's largest lender SBI rose 2% ahead of its earnings to be announced later in the day while ICICI Bank, Tata Motors, Axis Bank, Tata Steel, Hero MotoCorp, Lupin, ONGC, Bajaj Auto, Adani Ports and Reliance Industries, were up as much as 4.4%. The Nifty too, was up by 13.50 points or 0.14 per cent.

Minutes into trading, it was quoting at 30, 529.70 points, down by 129.07 points, or 0.42 per cent.

The S&P BSE mid-cap index fell 0.72 percent while the small-cap index declined 0.88 percent.

Major losers in the 30-share index were Asian Paints (2.35%), Tata Consultancy Services (1.68%), Maruti Suzuki India (1.46%), Housing Development Finance Corporation (1.40%), Dr Reddy'S Laboratories (1.25%), and G A I L (India) (1.23%).

Karur Vysya Bank advanced 1.5 percent on reporting a 58 percent increase in quarterly profit.

The BSE fast moving consumer goods index gained as much as 4% as Hindustan Unilever, ITC, Colgate Palmolive, Jayshree Tea, Emami, Britannia, Marico and Tata Coffee were up over 3-5% each.

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Likewise, the 50-scrip NSE barometer Nifty slipped from its all-time high to finish at 9,429.45, down 96.30 points, or 1.01 per cent.

"Trading members are requested to note that futures and options contracts (F&O) for five underlying securities shall be available for trading in the equity derivatives segment with effect from May 26, 2017", the BSE said in a circular today.

In the Asian region, Japan's Nikkei was up 0.2%, Hong Kong's Hang Seng rose 0.3%, Shanghai Composite 0.12% in early deals.

Indian shares tumbled on Thursday as political uncertainty surrounding U.S President Donald Trump after the firing of FBI Director James Comey dented demand for riskier assets globally.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs 235.33 crore yesterday, while domestic institutional investors sold shares worth Rs 65.77 crore, according to provisional data released by the stock exchanges.