Opening Bell: Nifty near 16,800, Sensex gains around 500 points; IT stocks outperform
Tracking global market cues, the domestic equity market opened on a strong note on Friday.
Tracking global market cues, the domestic equity market opened on a strong note on Friday. Benchmark indices Nifty50 and Sensex opened higher by around 0.8 % and 0.9% respectively as the former opened near 16,800 and the latter gained more than 400 points to start near 56,200.
Following headline indices, Nifty midcap and small cap rose 0.6% and 0.9% respectively.
On the sectoral front, Nifty IT outperformed gaining by more than one and half per cent as all sectoral indices comfortably sat in the green.
In the pre-open, the Sensex gained by more than 400 points as 26 stocks advanced, three declined and one remained neutral on the 30-share index.
Earlier, minutes before the market opening, hinting at a positive opening for the Indian market, SGX Nifty Futures was trading higher by more than 130 points on the Singaporean exchange.
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