Sensex crosses 47,000 to hit record high, TCS, HCL Tech and Wipro share prices are top gainers on Nifty

Indian equity markets have opened with a positive bias for the sixth straight session, poised for their seventh consecutive weekly advance. The S&P BSE Sensex hit 47,000 mark, gaining 0.3% to open at 47,026 while the NSE Nifty 50 index gained just over 20 points to open at 13,764. A seventh straight weekly advance would be the longest weekly gaining run since April 2019

Among the sectoral indices, the I.T. index has opened with gains of 1.2% courtesy strong commentary from Accenture. Infosys, TCS, HCL Tech and Wipro are the top gainers on Nifty. Also gaining is the Media index, which is up 0.5%. Most other sectoral indices are trading little changed. Broader markets too have opened with modest gains. The Nifty midcap index is up 0.2% while the Smallcap index has gained 0.4% at the start of trade. 1049 stocks on the NSE are trading with gains while 483 are trading with losses. 

For today’s trading session, Sun TV, Canara Bank and Punjab National Bank in the F&O ban. Three other stocks — HDFC Asset Management, Dr. Lal Pathlabs and Aarti Industries will commence trading in the F&O space starting Jan 1, 2021, according to a circular on the exchanges.

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Globally, Asian markets are mixed this morning as the U.S. lawmakers continue to wrangle over a federal-spending deal. Futures on the Dow Jones are currently trading 65 points lower. The index had gained 0.5% on Thursday. West Texas Intermediate crude fell 0.3% to $48.2 per barrel, while gold traded at $ 1,879.8/Oz.