Equity barometers ended with modest gains on Friday amid positive global cues fueled by hopes of a trade deal between the US and China. The barometer index, the BSE Sensex, rose 246.68 points or 0.65% to 38,127.08, as per the provisional closing data. The Nifty 50 index rose 66.7 points or 0.59% to 11,301.25, as per the provisional closing data.

Domestic investors awaited domestic factory output data for August and Infosys Q2 earnings scheduled to be released later in the day.

The market breadth was negative. On the BSE, 1107 shares rose and 1357 shares fell. A total of 193 shares remain unchanged. In Nifty 50 index, the market breadth was positive with 35 stocks advancing and 15 stocks declining.

The broader market lagged benchmarks. The S&P BSE Small-Cap index rose 0.38%. The S&P BSE Mid-Cap index was up 0.24%.

After a gap up opening, the Nifty 50 index surged over 1% in morning trade. The trend sharply reversed in mid-morning trade with the Nifty briefly slipping into negative terrain below 11,200 mark. The 50-unit index recovered and traded with decent gains for most part of the session. Buying resumed in mid-afternoon trade, pushing the Nifty once again above its 200-day moving average.

Meanwhile, Chinese President Xi Jinping has touched down in Chennai for a two-day informal summit with Prime Minister Narendra Modi and received a grand cultural welcome with traditional dance performances at the airport. After landing in Chennai, Modi expressed the wish that the summit will further strengthen ties between India and China.

Index pivotal Tata Consultancy Services (TCS) declined 0.82%. The IT major reported 1.09% fall in consolidated net profit to Rs 8,042 crore on 1.23% rise in total income to Rs 40,338 crore in Q2 September 2019 over Q1 June 2019. The result was announced after market hours yesterday, 10 October 2019. The company's board declared a second interim dividend of Rs 5 and a special dividend of Rs 40 per equity share of the company. The record date for the dividend is Friday, 18 October 2019.

Most auto stocks advanced. Tata Motors (up 3.81%), TVS Motors Company (up 2.26%), Maruti Suzuki India (up 1.28%), SML Isuzu (up 1.01%), Eicher Motors (up 0.69%) and Ashok Leyland (up 0.15%) edged higher.

Society of Indian Automobile Manufacturers (SIAM) released sales data for the month of September 2019. Passenger vehicle sales declined for 11th straight month, falling 23.7% to 223,317 units in September 2019 over September 2018. Sales of medium & heavy commercial vehicles were also disappointing. It declined 62.11% to 14,855 units in September 2019 over September 2018.

Shares of state-run oil marketing companies sank after crude oil prices firmed up in the international commodity market. Indian Oil Corporation (down 3.21%), Hindustan Petroleum Corporation (HPCL) (down 1%) and Bharat Petroleum Corporation (down 0.48%) all tumbled.

In the commodities market, Brent crude for December 2019 settlement was up $1.02 at $60.12 a barrel. The contract rose 1.34% to settle at $59.1 a barrel during the previous trading session.

Crude oil prices flared up amid reports of an explosion in an Iranian tanker that has set the National Iranian Oil Company-owned vessel on fire near the Saudi port city of Jeddah. The explosion is said to have caused heavy damages to the vessel and oil is spilling into the Red Sea. The report further added that the reason for the explosion is still under investigation but reports suggested that it may be a terrorist attack.

Bandhan Bank jumped 15% while Gruh Finance surged 10.8%. The National Company Law Tribunal (NCLT) recently cleared the scheme of amalgamation between Kolkata-based Bandhan Bank and Ahmedabad-based Gruh Finance. Thursday, 17 October 2019 has been fixed as the record date following the effectiveness of scheme for determining shareholders of the merged entity. Meanwhile, the MSCI has reportedly included Bandhan bank to MSCI India large cap index. The combined free float market capitalisation of Bandhan Bank will increase to above $2.5 billion after its merger with Gruh Finance, which made it eligible for large cap index.

Tata Steel gained 3.06%. Tata Steel India's Q2 sales volume increased by 5% QoQ on provisional basis primarily with better volumes at Tata Steel BSL. During the quarter, lower volumes to Automotive segment were compensated by higher exports while deliveries in Branded Products & Retail segment and Industrial Product & Projects segment were maintained. Tata Steel India's Crude Steel production was flat on QoQ basis. The announcement was made after market hours yesterday, 10 October 2019.

IndusInd Bank continued to slide lower after tumbling 6.15% in previous session. The private sector bank was down 0.4% to Rs 1224. The stock hit an intraday low of Rs 1212 which is also a 52-week low for the counter. The bank announced its Q2 September 2019 result yesterday. Net profit jumped 50.33% to Rs 1383.37 crore in Q2 2019 as against Q2 2018. Total income rose 31.40% to Rs 8877.02 crore in Q2 September 2019 over Q2 September 2018.

G.M.Breweries was up 1.16% after announcing a decent Q2 September 2019 result yesterday. Net profit rose 2.2% to Rs 19.85 crore on an 8.7% increase in net sales to Rs 121.40 crore in Q2 September 2019 over Q2 September 2018.

Indiabulls Real Estate was locked in an upper circuit of 5% at Rs 43.40. The board of directors of Indiabulls Real Estate approved a proposal to buyback upto 5 crore fully paid-up equity shares, or 11% equity, at Rs 100 each. The total buyback size is Rs 500 crore.

Indiabulls Ventures was up 4.52% at Rs 104.1. The board of directors of Indiabulls Ventures approved a proposal to buyback upto 6.66 crore fully paid-up equity shares, or 12.61% equity, at Rs 150 each. The total buyback size is Rs 1,000 crore.

Shares of IRCTC will debut on the bourses on Monday, 14 October 2019. The IPO was subscribed 112 times.

Overseas, shares in Europe and Asia edged higher on Friday as high-level U.S.-China trade talks progressed into a second day and optimism grew that a truce can be achieved.

US stocks rose on Thursday on hopes that top-level US-China trade talks would yield at least a partial deal, while a jump in Apple's shares also boosted the market.

US President Donald Trump said trade talks between US and Chinese officials on Thursday went very well and the two sides had a very, very good negotiation.