Markets snap yesterday’s decline, open positive today; Sensex surges nearly 250 pts, Nifty above 15700
The Indian markets started Friday session with gains, snapping yesterday’s decline at the close. All the important indices opened positive, including Nifty above 15,700 and Sensex up near 250 points.
The markets had tumbled on Thursday on the back of weak global cues and strength in US dollar saw foreign investors turn sellers at the margin.
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BSE Sensex grew by 244.74 points or 0.47 per cent to 52568.10, while Nifty jumped 65.10 points or 0.41 per cent to 15756.50 at open on Friday.
Similarly, Nifty Bank opened 129.8 points higher or 0.38 per cent higher to 34735.2 and the Mid Cap index surged 75.50 points or 0.28 per cent to 26851.80 at open today.
Of 50 scrips on Nifty50, 36 advanced, and 14 declined during early morning trade on Friday. Power Grid gaining most on Friday on the index grew around two per cent amid healthy Q4 numbers,
While banking and metal stocks lead the index during early trade in the morning, as IndusInd Bank and TCS each grew by one per cent, while HDFC and Infosys surged around one per cent.
On the other hand, ONGC declined most by near three per cent, followed by Tata Steel and JSW Steel each fell around two per cent minutes after the Friday open of the market.
All sectors were opened in the green, Nifty IT surging most by over half a per cent, except for Nifty Metal and Auto declining by 0.59 and 0.14 per cent respectively.
The global markets, especially the US, see the mixed reaction to the Federal Reserve policy with Dow Jones falling 200 points while Nasdaq within striking distance of new all-time highs on Thursday. Asian markets opened in the green led by the Japanese Nikkei which traded higher by 100 points.
Another important trigger for domestic markets, Foreign Institutional Investors sold shares worth Rs 879.73 crores and bought Rs 45.24 crores in index futures.
(Authored by Vaibhav Bansode)
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