Sensex Gains Over 200 Points, Nifty Above 15,700; Infosys, TCS Gain

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At 9:20 am, the BSE Sensex was trading at 52,536.06, higher by 205.30 points or 0.36 per cent

The domestic stock markets have opened firm on the last day of the trading week, rebounding from the moderate losses in the previous session, on the back of positive global cues. At 9:20 am, the BSE Sensex was trading at 52,536.06, higher by 205.30 points or 0.36 per cent and the NSE Nifty was at 15,727.30, up 29.89 points or 21 per cent. The IT index has jumped almost 1 per cent to lead the gains on the bourses. 

The broader markets are trading mixed, with the BSE Midcap index losing 0.3 per cent and the BSE Midcap index gaining 0.1 per cent.

Asian markets were mixed in Friday morning trade following an overnight drop for the Dow Jones Industrial Average on Wall Street. In Japan, the Nikkei 225 gained 0.14 per cent while the Topix index slipped 0.55 per cent. South Korea’s Kospi traded fractionally higher. The S&P/ASX 200 in Australia advanced 0.17 per cent.

U.S. technology shares jumped on Thursday on optimism around a speedy economic recovery, although the Federal Reserve’s unexpectedly hawkish message on monetary policy kept the S&P 500 subdued.

The Dow Jones was down 0.57 per cent, while the S&P 500 was up 0.06 per cent and Nasdaq Composite was up 1.09 per cent.

Meanwhile, crude oil prices fell nearly 2 per cent from their highest level in years on June 17 as the dollar strengthened after the US Federal Reserve signaled it might raise interest rates as soon as 2023.

Brent futures fell $1.31, or 1.8 per cent, to settle at $73.08 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.11, or 1.5 per cent, to settle at $71.04.

On the earnings front, Ashoka Buildcon, Archidply Industries and Balaji Telefilms will announce their quarterly results during the day.

On the stock-specific front, Bajaj Finserv has rallied 1.5 per cent to Rs 11,997 to top the gainer’s list on the BSE. Information technology stocks have also built on recent gains, with Infosys, TCS and HCL Tech gaining around a per cent each.

On the other hand, metal stocks are trading weak, with Hindalco, JSW Steel and Tata Steel losing around a per cent each on the BSE.

The BSE market breadth is strong. Out of 2,598 stocks traded on the BSE, there are 1,478 advancing stocks as against 1,025 declines.

Author: desi123

Desi123.com is an online news portal that aims to provide the latest trendy news for Asians living in Asia and around the World.

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