Indian equities rise marginally tracking gains in global peers

Indian markets on Friday opened marginally higher tracking gains in global equity as investors awaits US jobs data and a speech by Federal Reserve Chairman Jerome Powell. Investors will also cautious ahead of finance minister Nirmala Sitharaman press conference in Kolkata.

At 9.20 am, Benchmark Sensex Index rose 0.43% to 36800.30 points while Nifty index gained 0.51% to 10903.60.

Among US markets, Dow Jones rose 1.4%, S&P500 gained 1.3% while IBOVESPA climbed 1%. In Europe markets, DAX was up 0.9%, CAC40 1.1%. In Asian markets, Nikkei and Hang Seng gained 0.6% each.

Non-farm payrolls data due Friday. American employers probably added 160,000 jobs last month after a 164,000 gain in July, according to a Bloomberg survey.

Investors will also look to Fed Chairman Powell’s speech in Zurich on Friday for more clues on the policy outlook.

According to analyst, over-all, there have been constant outflows form the equity which shall continue to build pressure on the pair and as long as the trade war uncertainties prevails; we shall see markets moving largely based on the sentiments rather following any trend.

Fifteen of the 19 sector indexes compiled by BSE Ltd. advanced, led by a gauge of Information technology index. Twenty five of the 31 Sensex constituents and 33 of the 50 Nifty companies rose.

Sun Pharmaceuticals Industries Ltd fell 4% after the company clarified that Sebi had ordered forensic audit with respect to financial statements for financial years 2016, 2017 and 2018, which are presently underway. The company said that it has always sought to comply with regulatory obligations.

Prabhat Dairy Ltd hit 20% upper circuit after the company informed exchanges that its board will meet on 10 September to consider delisting of shares.

Bajaj Finance Ltd rose 1% ahead of its board meeting to consider raising funds via QIP on 17 September.

First Published: Sep 06, 2019 11:54 IST