The benchmark indices, which opened on a positive note in the early hours, reversed into the red. The Sensex is trading at 76,343.90, down by 176.48 points or 0.23%, while the Nifty stands at 23,134.40, lower by 70.95 points or 0.31%.

The benchmark equity indices started Friday’s session on a positive note. The NSE Nifty 50 rose by 69.90 points or 0.30% to begin trading at 23,275.50, while the BSE Sensex advanced 251.80 points or 0.33% to open at 76,770.56.

During the pre-open session, the Nifty 50 was down 64.80 points, or 0.28%, at 23,140.55, while the Sensex was up 88 points, or 0.12%, at 76,608.38.

“The nifty rose for a second day yesterday following Wednesday’s hammer, but came off its session highs. The 23426 – 23471 remains a formidable upside hurdle for the benchmark, but the real action is occurring in the NSE mid- and smallcap indexes which significantly outperformed the nifty. The former traced an upside follow through candle yesterday while the latter generated a “bullish piercing line” formation. All the headline indices remain below the major daily moving averages – 50/100/200, so its important to tread with caution as the market starts to probe higher levels,” said Akshay Chinchalkar, Head of Research, Axis Securities.

Also Read

In the morning session, Power Grid Corporation led the gains in the Sensex 30 pack, surging 2.38% to trade at Rs 301.30. It was followed by NTPC, which rose 1.50% to Rs 328.50. Tata Steel gained 1.34%, trading at Rs 132.25, while UltraTech Cement climbed 1.28% to Rs 11,568.75 and Bharti Airtel, up 0.80% at Rs 1,649.20.

In the Nifty 50, Power Grid Corporation of India is leading the gainers, trading at Rs 300.45, up 2.07%, followed by Shriram Finance at Rs 538.8, rising 1.70%. Bharat Petroleum Corporation is up 1.51%, trading at Rs 275.35, while JSW Steel is higher by 1.27%, currently at Rs 941.75. NTPC is also performing well, trading at Rs 327.6 with a 1.22% increase.

On the losing side, Dr Reddy’s Laboratories is trading lower by 5.57% at Rs 1217.55. Apollo Hospitals Enterprise is down 1.39%, trading at Rs 6824.6. Sun Pharmaceutical Industries has slipped 1.11% to Rs 1813.25, while Tata Motors is trading 1.00% lower at Rs 744.95. SBI Life Insurance Company is also in the red, down 0.95% at Rs 1436.05.