Following a rangebound trade in previous two sessions, BSE Sensex and Nifty 50 opened half a per cent higher on Friday.
Following a rangebound trade in previous two sessions, BSE Sensex and Nifty 50 opened half a per cent higher on Friday. The 30-share index Sensex was trading over 160 points or 0.44 per cent higher at 38,479, while the broader Nifty 50 index was ruling at 11,349, up 48 points or 0.43 per cent. Index heavyweights such as Reliance Industries (RIL), Larsen & Toubro, Infosys, ICICI Bank and TCS were among the top index contributors. Ahead of Supreme Court hearing on telecom AGR dues, Bharti Airtel shares were trading in the positive territory.
L&T jumps over 2%: Out of 30 Sensex stocks, 18 scrips were trading higher with Larsen & Toubro shares gaining the most, up 2.2 per cent, after the company bagged order worth Rs 1,000-2,500 crore. Sun Pharma, RIL, Asian Paints, NTPC, Infosys were among other gainers. On the other hand, HCL Tech, Power Grid, Maruti Suzuki, ONGC and ITC were among top laggards.
Nifty Pharma top sectoral gainer: Except for Nifty Auto, Nifty Financial Services and Nifty PSU Bank, all the sectoral indices were trading in the green. Nifty Pharma was up 1.48 per cent led by gains in Lupin, Cipla, Sun Pharma and Aurobindo Pharma.
SC hearing on AGR dues: The Supreme Court is scheduled to hear the case on telecom adjusted gross revenue (AGR) matter later in the day today. In the previous hearing, SC questioned the government’s stance on matter. The apex court asked SG Tushar Mehta to come prepared on Friday with a plan for recovery of dues from the companies under insolvency.
Corporate earnings: A total of 231 companies including Hindalco Industries, NTPC, Glenmark Pharmaceuticals, Berger Paints, Fortis Healthcare, Indian Bank, MRF, New India Assurance Company, United Breweries and Voltas, are scheduled to announce their quarterly earnings today.
FII and DII data: On Thursday, foreign institutional investors (FIIs) bought shares worth Rs 416.28 crore while domestic institutional investors (DIIs) sold shares worth Rs 763.54 crore on a net basis, according to the provisional data available on the NSE.
Global markets: Asian stock markets were seen trading mostly higher on Friday. Australia’s ASX 200 rose 0.45%. In Japan, the Nikkei 225 added 0.12% while the Topix index was up 0.18%. In overnight trade on Wall Street, the Dow Jones Industrial Average fell 0.29 per cent, the S&P 500 lost 0.20 per cent, and the Nasdaq Composite added 0.27 per cent.