Key benchmark indices were trading higher in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 92.64 points or 0.26% at 36,263.05. The Nifty 50 index was up 25.05 points or 0.23% at 10,883.75.
Among secondary barometers,the BSE Mid-Cap index was up 0.33%. The BSE Small-Cap index was up 0.16%.
The market breadth, indicating the overall health of the market, was positive. On BSE, 577 shares rose and 339 shares fell. A total of 41 shares were unchanged.
Overseas, Asian markets were mixed as investors waited for a highly-anticipated meeting between President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 summit in Argentina.
Growth in China's services industry slowed for the second straight month in November, an official survey showed. The official non-manufacturing Purchasing Managers' Index (PMI) released on Friday fell to 53.4 from 53.9 in October, but remained well above the 50-point mark that separates growth from contraction.
Growth in China's manufacturing sector stalled for the first time in over two years in November. The official Purchasing Managers' Index (PMI) fell to 50.0 in November from 50.2 in October, data showed on Friday. The 50-point mark is considered neutral territory, indicating no growth in activity or contraction on a monthly basis.
US stocks reversed direction to close lower Thursday as investors' attention shifted to a weekend meeting between President Donald Trump and Chinese President Xi Jinping.
Speaking to the media, Trump said he was "close to doing something with China" but that he wasn't sure he wanted to, citing revenue from tariffs on Chinese imports. Trump on Thursday tweeted that "billions of dollars" are pouring into the US Treasury from tariffs and that there is "a long way to go."
On the US data front, the number of Americans who applied for unemployment benefits last week rose to 234,000, their highest level in six months, according to the Labor Department.
The Commerce Department reported that consumer spending in October rose by 0.6%, while income rose by 0.5%. The same release showed personal-consumption expenditures, the Fed's preferred measure of inflation, right at the central bank's target of 2% year-over-year.
The National Association of Realtors reported that US pending home sales slid 2.6% in October from September, to their lowest level since June 2014.
Back home, Asian Oilfield Services was up 4.89%. The company has received a Letter of Award of Contract from Oil and Natural Gas Corporation for hiring of services for 2D Seismic Data Acquisition in un-appraised on land areas of Sedimentary Basins of India Sector 11A (Himalayan Foreland area) valued at Rs 27.65 crore. The announcement was made after market hours yesterday, 29 November 2018.
Bharat Financial Inclusion was up 1.74%. The company completed the sixth securitization transaction of Rs 289.14 crore in FY19. With this transaction, the company has completed six securitization transactions worth Rs 2842.17 crore in FY19. The announcement was made after market hours yesterday, 29 November 2018.
Inox Leisure was up 2.47%. The board of directors for operations of Inox Leisure approved the issuance of 64,00,000 equity shares at Rs 250 each, aggregating to Rs 160 crore to Gujarat Fluorochemicals, the promoter of the company. The announcement was made after market hours yesterday, 29 November 2018.
Responsive Industries was up 1.14%. The company said that the meeting of the board of directors of the company is scheduled on 4 December 2018 to review and discuss the proposed program to buyback the equity shares of the company. The announcement was made after market hours yesterday, 29 November 2018.
Asian Granito India was up 2.54%. The company said that the meeting of the board of directors of the company is scheduled on 4 December 2018, to consider and approve raising of funds by way of issue of equity shares on preferential basis for the company. The announcement was made after market hours yesterday, 29 November 2018.
On the macro front, the government will announce data on September quarter gross domestic product (GDP) later today, 30 November 2018. The Indian economy grew 8.2% year-on-year in the previous quarter, above 7.7% in the previous three months.
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