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Indian benchmark indices open significantly higher
Find out how India's Nifty and Sensex opened with strong gains on Friday, tracking positive global stock market trends. With insights into current developments and important information for investors. #Nifty #Sensex #stock market
Indian benchmark indices open significantly higher
India's benchmark indices Nifty 50 and Sensex 30 posted strong gains at the open on Friday, driven by positive global equity markets. On Thursday, Nifty and Sensex closed marginally higher after registering a loss of over 1.0% the previous day. US core inflation data was in line with estimates, while India's gross domestic product grew an impressive 8.4% year-on-year in the third quarter.
The positive growth numbers in India were welcomed by traders, who continue to drive the Indian indices. Both Nifty 50 on the National Stock Exchange (NSE) and Sensex 30 on the Bombay Stock Exchange (BSE) recorded significant gains at the time of writing. Nifty 50 was trading 0.65% higher at 22,125.65 while Sensex 30 rose 0.57% to 72,910.64.
Gainers on Nifty on Friday included BPCL, ONGC, Britannia, Tata Steel, Tata Motors and Hindalco, while companies like Apollo Hospitals, Sun Pharma, Infosys, HCL Tech and Britannia were among losers. Additionally, Shriram Finance will replace UPL in the Nifty 50 index from March 28. Foreign direct investment in India fell 13% to $32.03 billion in April-December 2023, according to government data.
In addition to the stock market information, an agreement was announced between Reliance, Viacom 18 and Walt Disney to combine their businesses. The US Federal Reserve (Fed) is expected to cut interest rates in June as markets predict about a 62% chance of doing so. The US ISM manufacturing PMI is expected to provide further trade stimulus.