Indian equity markets opened on a flat note with a negative bias on Friday following weak Asian peers, but soon recovered to trade with marginal gains.
Indian equity markets opened on a flat note with a negative bias on Friday following weak Asian peers, but soon recovered to trade with marginal gains with shares of blue-chips Dr Reddy’s Lab, ICICI Bank, TCS, Infosys and Sun Pharma trading in the green. The Sensex rose almost 66 points to a high of 35,666.07 points in early trade. The Nifty50 of the National Stock Exchange edged up 20 points to a high of 10,823.80 points.
The BSE market breadth was bullish as out of 1,526 trading companies, 919 were advanced as against 541 declines. IT, healthcare and consumer durables indices traded with gains, while oil and gas, auto and capital goods indices traded in the negative. Power Grid, Yes Bank, NTPC, Asian Paints and Hindustan Unilever were among the top losers on the BSE. The Nifty Bank index traded a tad up at 0.01 per cent on the NSE.
On Friday, Asian shares traded nervous as investors braced for U.S. tariffs against China, even as the Wall Street saw a strong close, Reuters reported. The Asia Pacific MSCI index edged down 0.2 per cent, however Japan’s Nikkei average added 0.5 per cent. In the US, the S&P 500 edged up and the Nasdaq reached another record closing high on Thursday after the European Central Bank said it would avoid raising interest rates until mid-2019.