Indian equities opened marginally higher on Friday with Sensex jumping 140 points and Nifty regaining 10,400-mark as shares of heavyweight companies such as Sun Pharma and Airtel rallied up to 4% while PNB shares gained over 1%.
Indian equity markets started flat on Friday with Sensex and Nifty opening marginally higher Sun Pharma, Tata Steel, Dr Reddy’s, ONGC, Adani Ports and TCS leading the gains. Shares of Federal Bank rose over 4% in the early trades after the private sector lender acquired a minority stake of 26% in Equirus Capital, to venture into investment banking. The S&P BSE Sensex gained 140.81 points to a day’s high of 33,960.31 and NSE Nifty surged 43.7 points to mark the day’s peak at 10,426.41 on Friday. An all-round buying was seen on the counters as all the sectoral and broader market indices of National Stock Exchange hovered in green in the morning deals.
Shares of Sun Pharma, Tata Steel, Bharti Airtel, Dr Reddy’s, Wipro, Kotak Mahindra Bank, Tata Motors were the top gainers among the Sensex scrips advancing up to 2.5% while Asian Paints, Coal India and M&M declined up to 1%. The 30-share indicator Sensex inched up 12.5 points or 0.04% to open at 33,832 whereas the wider barometer Nifty advanced 25.4 points or 0.24% to begin the day at 10,408.1. Among the group ‘A’ shares on BSE, stocks of Federal Bank, Info Edge, Wockhardt Pharma, L&T Technology Services and Biocon rose up to 5% while shares of Jubilant Lifesciences, Vakrangee, Videocon, and Siemens tanked 2-8%.
Amid the broader market indices of NSE, Nifty Nect 50, Nifty 100, Nifty 200, Nifty 500, Nifty Midcap 50, Nifty Mid100 Free, Nifty Small100 Free advanced up to 1% under a tightened volatility. The volatility indicator of NSE, India Vix declined 4.95% to 14.0975. On the other hand, all of the 11 sectoral indices traded in greem with Nifty Pharma, Nifty PSU Bank leading the charge rising up to 2%.
Shares of the scam-hit PNB were trading little changed, up 1.61% at Rs 115.85 while the stock of Gitanjali Gems remain on the falling spree, shedding for the eighth stright session. The stock of Gitanjali Gems again dived 5% to an all-time low of Rs 24.8 on BSE on Friday taking the eight-day plunge to 60%.
The Dow and S&P 500 advanced on Thursday to halt a two-session losing skid, buoyed by gains in industrial and energy shares as US Treasury yields eased, while the Nasdaq lost ground for a third straight session, Reuters said in a report. The Dow Jones Industrial Average rose 164.7 points or 0.66% to 24,962.48, the S&P 500 gained 2.63 points or 0.10% to 2,703.96 and the Nasdaq Composite dropped 8.14 points or 0.11% to 7,210.09.