Markets open positive for straight five sessions; Nifty hits news intraday record high, BSE Sensex gains 250 points

For the fifth straight session, the domestic markets opened higher with the Nifty50 hitting an intraday record high and Sensex surging by 250 points on the last day of the trading session this week. 

At Friday’s open, both the benchmark indices were trading around half a per cent higher. BSE Sensex trading at 51379.9 up 264.64 points higher, while Nifty50 at 15421.20, up 83.30 points. 

Similarly, Nifty Bank on Friday opened over half per cent higher at 35345.70, up 250.60 points, while the broader market index, Mid-cap at 25811.80, up 0.42 per cent or 106.90 points higher. 

Out of 50 scrips on Nifty, 34 advanced, whereas 16 declined in the morning trade. Steel stocks have turned out to be the biggest gainers today at open with Tata Steel and JSW Steel both surging over three and a half per cent and Hindalco jumped over two and a half per cent on Friday 

Eicher Motors up over three and a half per cent and Grasim over one per cent higher also joined the list of most surging stocks today at open on Index. 

Except for Nifty FMCG and Nifty Realty, all other sectors were trading in the green with Nifty PSU Bank and Nifty Bank soaring most of all its peers, led by Punjab National Bank and State Bank of India shares. 

Eicher Motors and Sun Pharma are in focus today amid their quarterly results that were reported on Thursday. The former jumped during today’s trade while the latter has declined at open. 

Similarly, the other stocks that would be in focus today would be Mahindra & Mahindra, Glenmark Pharmaceuticals, Indian Bank, Ipca Laboratories, Dilip Buildcon, Deepak Fertilisers & Petrochemicals Corporation, Prataap Snacks, Force Motors on the back of their quarterly results expected today. 

Meanwhile, Foreign Institutional Investors on Thursday sold shares worth Rs 660.9 crore in cash and bought Rs 112.38 crore in index futures. Similarly, the global markets, especially, the US markets closed with gains and Asian Markets have opened in the green.