Equity benchmark BSE Sensex overcame a weak start to end nearly 100 points higher on Friday, led by auto, IT and finance stocks even as global markets dived after US announced fresh tariffs on Chinese imports.
The 30-share BSE Sensex rose 99.90 points or 0.27 per cent to settle at 37,118.22. Similarly, the broader NSE Nifty gained 17.35 points or 0.16 per cent to end at 10,997.35.
Mortgage lender HDFC climbed 1.75 per cent after the company reported a 46 per cent rise in standalone net profit to Rs 3,203.10 crore for the June quarter.
Other gainers included Bharti Airtel, Asian Paints, Bajaj Auto, Maruti, M&M, Tech Mahindra, Hero MotoCorp, TCS, L&T and Tata Motors, which rose up to 6.02 per cent.
On the other hand, SBI, Tata Steel, NTPC, ONGC, Power Grid, Vedanta, ICICI Bank and ITC were among the major losers, falling up to 2.76 per cent.
In the previous session, Sensex plunged 462.80 points or 1.23 per cent to end at 37,018.32. The broader NSE Nifty dropped 138 points or 1.24 per cent to close below the key 11,000-mark at 10,980.00.
US President Donald Trump's decision to impose new tariffs on Chinese goods triggered fresh tension among investors over the trade battle between the two largest economies.
Trump on Thursday announced that the US will impose a 10 per cent levy on USD 300 billion in Chinese goods. The new tariffs is expected to go into effect from September 1.
Global markets wobbled after US President Donald Trump announced that the US will impose a 10 per cent levy on USD 300 billion in Chinese goods, which Beijing vowed to retaliate.
Foreign investors sold shares worth Rs 1,056.55 crore on a net basis on Thursday, as per provisional data with stock exchanges.
Elsewhere in Asia, Shanghai Composite Index, Hang Seng, Kospi and Nikkei ended in the red. Equities in Europe were also trading lower in their early sessions.
Meanwhile, the rupee was trading 52 paise lower at 69.58 against the US dollar (intra-day).
The global oil benchmark Brent crude futures strengthened by 2.28 per cent to USD 61.88 per barrel
(With inputs from PTI)