The markets came off their intraday highs. The Sensex was up 255 points, or 0.31%, at 83,722.81, while the Nifty gained 61 points, or 0.24%, to trade at 25,646.55.
In afternoon trading, the Sensex surged 632.88 points, or 0.76%, trading at 84,100.54, while the Nifty climbed 183.25 points, or 0.72%, trading at 25,768.55.
Indian equity indices opened Friday’s trading session on a lower note. The NSE Nifty 50 fell 27 points or 0.11% to open at 25,558. The BSE Sensex opened 77 points or 0.09% lower at 83,392.
The Bank Nifty opened 97 points or 0.17% lower at 57,325. Similarly, the small and midcap stocks opened the day on a weaker note. The Nifty Midcap dropped 19 points or 0.03% to open at 59,223.
“The market is resilient and technically strong. Price action in the leading stocks indicates short covering. Even now, there are big shorts in the system, and the strength in the market might keep the bears on the back foot, facilitating further short covering. Good results from the banking majors HDFC and ICICI can impart fundamental support to the market, and if RIL, which has been a laggard for some time now, also joins the rally, the market can sustain the momentum for some more time. Muhurat trading and the festival cheer can add to the bullish spirits,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
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 Asian Paints, Max Health, Nestle India, Reliance Industries, and Apollo Hospitals. On the flip side, the key laggards in the Nifty 50 pack included Wipro, HCL Technologies, Eternal (Zomato), Tech Mahindra, and Infosys.
Major movers on Thursday
The stocks that were the major movers in the opening trade included Reliance Industries, Asian Paints, Bharti Airtel, Nestle India, and ITC, which were the major movers in the morning trade.
