Indian equity indices opened Friday’s trading session on a higher note. The NSE Nifty 50 opened 79 points or 0.31% higher at 25,978. The BSE Sensex opened 249 points or 0.29% higher at 85,066.
The Bank Nifty opened 201 points or 0.34% higher at 59,411. Also, the small and mid-cap stocks opened in the green. The Nifty Midcap opened 172 points or 0.29% higher at 59,749.
“A healthy feature of the investment behaviour of retail investors is the steady inflows into mutual fund SIPs, which have been consistently above 29000 crores during the last three months. This has strengthened the DIIs in the FIIs vs DIIs tug of war and has enabled the DIIs to absorb the sustained selling by FIIs. It would be difficult for the FIIs to sell continuously and maintain a high short position in the market in the context of healthy SIP inflows, particularly when the economy is doing well, and the prospects for earnings growth are improving,” 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 Larsen & Toubro, Hindalco, Tata Steel, Adani Ports, and Axis Bank. On the flip side, the key laggards in the Nifty 50 pack included Eternal (Zomato), Max Healthcare, Eicher Motors, Wipro, and Adani Enterprises.
Major movers on Friday
The stocks that were the major movers in the opening trade included L&T, Reliance Industries, ICICI Bank, Axis Bank, and HDFC Bank, which were the major movers in the morning trade.
Positive global sentiments
Also, the global markets were buoyed after the US Fed’s rate cut. The Asian markets followed Wall Street. Japan’s benchmark Nikkei 225 rose 0.96%, while the Topix added 1.18%. South Korea’s Kospi advanced 0.29%, while the small-cap Kosdaq traded around the flatline. The Dow Jones Industrial Average rose 646.26 points, or 1.34%, to finish at 48,704.01. The S&P 500 traded up 0.21% to settle at 6,901.00. However, the Nasdaq Composite pulled back 0.26% to finish at 23,593.86, as investors moved out of high-flying tech
