14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. 14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. 14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Indian equity benchmarks traded higher in early deals on Friday, taking cues from the global markets. The domestic indices rose today led by strong buying interest in banks, financials, metals, consumer and automobile stocks. The 30-share BSE Sensex climbed 260 points or 0.42 per cent to trade at 62,688, while the broader NSE Nifty moved 81 points or 0.44 per cent higher to trade at 18,568. Mid- and small-cap shares were positive as Nifty Midcap 100 gained 0.52 per cent and the small-cap 100 was up 0.74 per cent.
After months of bickering between Democrats and Republicans, the US Senate has passed bipartisan legislation backed by President Joe Biden that lifts the $31.4 trillion debt ceiling. Asian stocks were up following an overnight jump in Wall Street.
Bach home, 14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Sub-indexes Nifty Bank, Nifty Financial Services, Nifty Metal, Nifty FMCG, Nifty Consumer Durables and Nifty Auto were outperforming the NSE platform by rising as much as 0.41 per cent, 0.33 per cent, 1.17 per cent, 0.69 per cent, 0.52 per cent and 0.46 per cent, respectively. Nifty IT was the only sub-index that was down.
Foreign institutional investors (FIIs) sold Rs 71.07 crore worth of Indian equities on Thursday, halting a 24-session buying streak. In contrast, domestic institutional investors (DIIs) bought Rs 488.93 crore shares yesterday.
"An important trend in the market is the outperformance of the broader market. Expect lots of stock-specific action even within the range-bound movement," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
On the stock-specific front, Hero MotoCorp was the top Nifty gainer as the stock jumped 2.59 per cent to trade at Rs 2,873. Also, Hindalco, Britannia, Adani Enterprises and Kotak Mahindra Bank climbed up to 1.64 per cent.
In contrast, HDFC Life, Cipla, Sun Pharma, Coal India and HDFC slipped up to 1.23 per cent.
The overall market breadth was strong as 2,201 shares were advancing while 725 were declining on BSE.
On the 30-share BSE index, Kotak Bank, ICICI Bank, ITC, Axis Bank, Hindustan Unilever (HUL), Reliance Industries, SBI and M&M were among the top gainers.
In addition, Cyient Ltd, Zomato and Nuvoco Vistas Corporation jumped up to 8.21 per cent.
On the flip side, Biocon, Adani Total Gas and SpiceJet slipped up to 2.96 per cent.
Sensex had slipped 194 points or 0.31 per cent to settle at 62,429 on Thursday, while Nifty had moved 47 points or 0.25 per cent down to close at 18,488.
Nifty outlook
"Sellers dominated the proceedings yesterday on anticipated lines, with the early upside attempts being turned lower precisely from the 18,585 regions. However, the catchment area of 18,530-18,430 continued to absorb the bear attack, allowing bulls to regroup, yet again. We will begin the day hoping to stay above 18,480, in which case, the upside objective of 18,750 will come into play. Alternatively, while we have a high opinion above 18,430, slippage past 18,480 again could immensely raise the prospects of an extended drop towards 18,100-17,800. This is not the favoured view though, for now," said Anand James, Chief Market Strategist at Geojit Financial Services.