Indian equity indices are trading Friday’s session on a higher note, led by auto and oil & gas stocks. The NSE Nifty 50 has surged 130 points or 0.50% higher at 25,944. The BSE Sensex has risen 441 points or 0.54% higher at 84,897.
The Bank Nifty opened 111 points or 0.19% higher at 59,024. Similarly, the small and mid-cap stocks opened in the green. The Nifty Midcap opened 167 points or 0.28% higher at 59,759.
“A lot will depend on the Bank of Japan’s rate decision today. It is almost certain that the BoJ will raise rates by 25bp, and therefore, such a decision is unlikely to impact the market. What the market is looking for is the commentary from the Japanese central bank regarding future rate action in the context of inflation in Japan,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
“If the BoJ chief sends a hawkish message indicating more rate hikes, that would impact the market since the market will fear further unwinding of the yen carry trade, triggering more FII outflows from markets like India. Therefore, watch out for the BoJ commentary,” he added.
Let’s take a look at the key factors to watch out for today’s trading session
Early gainers and laggards
In early trade, among the Nifty 50, top gainers at this hour were Max Healthcare Institute, Tata Motors Passenger Vehicle, Reliance Industries, Jio Financial Services, and Eternal (Zomato). On the flip side, the key laggards in the Nifty 50 pack included Shriram Finance, Bharti Airtel, and ICICI Bank.
Major movers on Friday
The stocks that were the major movers in the opening trade included Reliance Industries, Infosys, HDFC Bank, L&T, and Bajaj Finance, which were the major movers in the morning trade.