Share Market Opening Bell! Sensex, Nifty open with minor gains; UltraTech, JSW Steel gain
The Indian markets started Friday’s session on a positive note amid strong global cues. The BSE Sensex jumped 130 points or a quarter per cent to 52,967.9, while Nifty surged 33 points or 0.21 per cent to 15,856.8 levels at the market open today.
In the broader markets, the mid-cap index following the benchmarks suite began today’s session in the green, gaining 168 points or 0.61 per cent to 27,706, while Nifty Bank continuing the Nifty’s lead, grew by 71 points or 0.2 per cent to 34748.3 levels.
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Of 50 scrips on Nifty50, 36 advanced, and 14 declined minutes after the market open today. Amid strong Q1 numbers, UltraTech Cement topped the Index chart, gaining by around 2 per cent, followed by JSW Steel up near 1.5 per cent and Adani Ports surging over 1 per cent at market open today.
BPCL and Titan also gained 0.8 and 0.7 per cent respectively in the positive market opening today.
On the other hand, Tata Motors slumped most by near 2 per cent, followed by L&T, Bajaj Finance and Bharti Airtel each declining between 0.5-1 per cent in the early morning trade today.
Minutes after the market open, almost all sectoral indices were in the red, except for the Nifty IT and Metal. IT Index surged most by 0.38 per cent, while Realty declined most over 1 per cent today.
On the global front, US markets on Thursday rise third day running even as retrace all last week's losses, while Nasdaq also sees a fresh rally towards 14,700. Asian markets on Friday opened muted with the Japanese 'Nikkei' closed for the 2nd day as public holidays extend into a long weekend.
Another important trigger to domestic markets, Foreign Institutional Investors sold shares worth Rs 247.59 crore in cash and bought Rs 942.55 crore in index futures.
The Nifty on Thursday had its best day of July gaining almost 200 points as oversold markets saw 'bear' covering as global cues turned positive. Nifty Bank gave into profit booking in the last hour on the pressure of weekly options and Midcaps also made a strong comeback as breadth improved.
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