Markets at 10 AM
LIVE market updates: The key benchmark indices were seen extending their opening gains in early morning trade. The BSE Sensex was up 753 points at 58020, while the NSE Nifty was 242 points higher at 17,352. The two indices were higher up to 1.3 per cent.
The strong pull-back has come with a positive start to the February F&O series and after a global sell-off due to rate hike fears by the US Federal Reserve. However, the markets are now appearing to recover from these shocks.
On the Sensex, M&M, NTPC, Tata Steel, Bajaj finance, Wipro, Sun Pharma, Infosys, IndusInd Bank and Bajaj Finserv were the top gainers, all up 2 per cent. ONGC (up 5 per cent) was the top Nifty gainer, followed by Eicher Motors and IOC. Top losers, meanwhile, included SBI, Maruti, PowerGrid.
Sectorally, all Nifty indices continued to trade in green led by gains in Nifty Realty (up 3 per cent), Metals, IT, Healthcare, Oil & Gas (up 2 per cent each) and Auto (up 1.5 per cent).
On the BSE, the PSU index was up 1.7 per cent with the Union Budget to be announced on Tuesday. MMTC, Mangalore Refinery, ONGC, BEML, NLC India, Hindustan Petroleum, NTPC, IRCTC and Concor were the leading state-run units on the index.
Among stocks, shares of Bharti Airtel rallied 6 per cent to Rs 752.80 on the BSE after the company said its board has approved raising funds to the tune of Rs 5,224 crore by issuing shares to Google on preferential issue basis. The telecom services provider will issue 71.18 million equity shares at price of Rs 734 per share. READ MORE HERE.
Opening Bell
LIVE market updates: The benchmark indices opened fairly positive on Friday after being volatile throughout the week amid a global sell-off. The BSE Sensex was up 500 points at 57,774, while the NSE Nifty was at 17,258 higher by 148 points.
Among the Sensex-30 shares, NTPC, Tata Steel, Sun Pharma, Bharti Airtel, Titan, Wipro, Bajaj Finance, IndusInd Bank, M&M and Asian Paints were the top gainers, up between 1-3 per cent. ONGC, Tata Consumer and IOC were the additional gainers on the Nifty. On the flip side, HDFC twins and Maruti were the only losers on the bourses.
In the broader markets, the BSE MidCap and SmallCap indices were also in the green zone, up over 1 per cent each, respectively.
Sectorally, all Nifty indices were trading higher with the Nifty Realty, IT, Metal, Auto, Oil & Gas PSU Bank and Pharma indices being top gainers, up 1-1.9 per cent.
On the flip side, RBL Bank was down 3 per cent on the exchange as investors seemed unimpressed with its Q3 performance. The bank reported a Net Interest Income of Rs 1,010 crore, a 10.4 percent quarter-on-quarter increase and an 11 percent year-on-year increase.The bank's operating profit dropped 9 percent QoQ, to Rs 631 crore.
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Pre-open session
LIVE market updates: The benchmark indices were seen firmly positive in the pre-open trades hinting at a higher start. The BSE Sensex was up 333 points at 57,610, while the NSE Nifty was at 17,193, higher by 83 points.
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LIVE market updates: The key benchmark indices may start trade on a flat note on Friday as indicated by SGX Nifty futures, which were around 17,185 level at 8.40 am, indicating an opening gain of 30-odd points. With the Union Budget next week, investors may want to tread cautiously amid global uncertainty and hawkish mood.
Telecom stocks are likely to be in focus as the DoT has agreed with the telecom players' plea to not proceed with the process of adopting 5Gi as a national standard. READ MORE
That apart, Dr Reddy's, L&T, AU Small Finance Bank, Bharat Electronics, Crompton Greaves, Dixon Technologies, Kotak Bank and Marico may also be in the limelight ahead of Q3 earnings today. READ MORE.
In the primary market, Adani Wilmar IPO so far has been subscribed 57 per cent. According to the exchange data, the institutional investor portion was subscribed 30 per cent, HNIs 54 per cent and 96 per cent.
Global cues
The US markets witnessed a highly volatile session of trade on Thursday amid mixed news flow. On one hand, investors had to deal with the prospects of a hawkish Fed policy and geopolitical tensions, while on the other hand economic data indicated that US GDP grew at its fastest pace in four decades. The Dow Jones ended flat, while the S&P 500 slipped 0.5 per cent. Tech-laced Nasdaq was down another 1.4 per cent.
Brent Crude ended over the $90-mark for the first time in over seven years, it rose 0.2 per cent to $90.11 a barrel, and WTI Crude also added 0.2 per cent to $87.53 a barrel.
Major markets in Asia were mixed this morning. Japan’s Nikkei had rallied 1.9 per cent. Kospi advanced 0.6 per cent, and Straits Times was up 0.1 per cent. On the other hand, Hang Seng and Shanghai Composite were down 0.6 per cent and 0.5 per cent, respectively. Taiwan too was down 0.2 per cent.
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