Share Market Opening Bell: FIRST TIME ever! Sensex opens above 55000, Nifty surges to 16400

The Indian markets on Friday opened at record high levels as Sensex breached 55000-mark for the first time, while Nifty50 surged past 16400-level, led by banking and financial stocks, amid strong global cues. 

The BSE Sensex gained around 225 points or 0.41 per cent higher to 55068.6 while Nifty grew by 59 points or 0.36 per cent to 16,423 levels at the market open today.   

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In the broader markets category, the mid-cap index opened flat but gaining marginally by 3.7 points or 0.01 per cent to 27688 at open on Friday. Similarly, Nifty Bank jumped over 200 points or 0.56 per cent to 36183 levels, powering most to the Nifty Index today at the market open.   

Of 50 scrips on Nifty50, 20 advanced, 27 declined and three remained unchanged at the market open today. HDFC and Mahindra and Mahindra surged most at the open today by 1.3 per cent, followed by Coal India and ICICI Bank each up over 1 per cent, while L&T around 1 per cent. 

On the contrary, Eicher Motors continues its decline and opened over 2 per cent lower, followed by Tech Mahindra and Tata Steel each declining near 1 per cent, while Power Grid fell by 0.6 per cent.

Minutes after the market open, almost all sectoral indices are in the green, except for Nifty Metal and Pharma each down 0.5 and 0.35 per cent. Pharma Index has been declining for the third straight session now. while banking and financial stocks gained marginally at the market open on Friday.   

On the global front, the US markets on Thursday ended at an all-time high as Dow Jones hits 35,500 to close with gains of 14 points and Nasdaq closes higher by 50 points. While Asian markets on Friday opened in the red as weekend blues prompted profit booking in most Asian indices.

Another important trigger to domestic markets, Foreign Institutional Investors (FIIs) sold shares worth Rs 212.11 crore in cash and bought Rs 307.75 crore in index futures.

The Nifty on Thursday closed at a fresh new all-time high as IT stocks led the surge. Besides, HCL Tech, Tech Mahindra, Tata Motor and Power Grid were the other Index gainers yesterday.