Share market Opening Bell: Record high levels! Nifty above 17,700, Sensex breaches 59,400 and Nifty Bank near 38,000
The Indian market opens at record high levels as Nifty surged above 17,700 and Sensex breached 59,400 levels.
The Indian market opens at record high levels as Nifty surged above 17,700 and Sensex breached 59,400 levels. While continuing yesterday’s rally, Nifty Bank approaches 38,000. The majority of the top gainers are the banking heavyweight led by SBI, ICICI Bank and HDFC Bank at the market open.
The BSE Sensex gained over 268 points or 0.45 per cent to 59410, while Nifty50 grew over 80 points or 0.45 per cent to 17709.7 levels on Friday. While in the broader markets, Mid-cap Index followed benchmarks suite and surged 156 points or 0.52 per cent to 30439 levels today at open today.
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Aiding most the Nifty50, Nifty Bank start Friday’s session on a record high note, gaining over 260 points or 0.7 per cent to 37929.5 levels, led by SBI, ICICI Bank and HDFC Bank.
Of 50 scrips on Nifty50, 47 advanced, 3 declined minutes after the market open today. FMCG major ITC continued its gaining streak at the market open today, as it jumped over 1 per cent, followed by banking stocks such as SBI, ICICI Bank and HDFC Bank up around 1 per cent, even HDFC joined the rallying party in the early morning trade to gain around 1 per cent today.
On the other side, metal stocks declined most as Tata Steel and JSW Steel become the top laggard, down by 0.7 and 0.4 per cent marginally in otherwise positive market today, followed by IT stocks such as Infosys, Wipro, and HCLT Tech flat with negative bias in the early morning trade today.
Almost all sectoral indices opened positive, except for Nifty Metal, Pharma and Media. Nifty Bank, Financial Services and FMCG gain most in the early morning trade on Friday, each up by over 0.6 per cent. While Nifty Metal and Pharma marginally down by 0.14 and 0.05 per cent respectively.
Globally, US markets on Thursday ended in the red after a volatile session as Dow Jones recovered from lows of the day down 275 to close lower by 60 points. While Asian markets on Friday opened mixed with the Japanese 'Nikkei' trading higher by 100 points even as other indices consolidated.
Foreign Institutional Investors (FIIs), another important trigger to domestic markets, bought shares worth Rs 1621.88 crore in cash and sold Rs 795.13 crore in index futures on Thursday.
The Nifty on Thursday closed with gains for another day as banks lead the gainers with the index closing over 17,600. Bank Nifty jumped over 2 per cent to hit fresh new all-time highs, led by IndusInd Bank and SBI.
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