Share market Opening Bell! Nifty, Sensex open at record high levels; Pharma and auto stock fuel the surge

The Indian markets started Friday’s session at record high levels, with Nifty going past 17250 and Sensex almost at 58,000 levels. The BSE Sensex jumped 130 points or 0.23 per cent to 57983, while Nifty50 grew by 28 points or 0.16 per cent to 17262 at the market open on Friday.     

In the broader markets, the mid-cap index outperformed the benchmarks to open over 150 points or 0.52 per cent higher to 29067 today. While strengthening the Nifty Index, Nifty Bank also started on a positive note, gaining 52 points or 0.14 per cent to 36883.7 levels, led by Kotak Mahindra Bank.           

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Of 50 scrips on Nifty50, 41 advanced, 9 declined minutes after the market open today. ONGC became the most gainer stock at open today, surging by over 1 per cent, followed by Kotak bank up around 1 per cent, while Grasim, Reliance Industries and BPCL each surged over 0.5 per cent. 

On the contrary, HDFC Life, after ending as a most gainer on Thursday, opened on Friday as top laggard minutes after market open, down around 2 per cent. While other stocks that declined marginally in a positive market are HCL Tech, TCS, HUL, Maruti, Tech Mahindra and Cipla. 

All sectoral indices opened in the green on Thursday, with, pharma and auto sectors surging most in the early morning trade by around 0.3 per cent in a positive market, while financial services opened flat with negative bias. Both private and public lenders are aiding the markets to grow at open.  

Globally, the US markets on Thursday end at a record high as better-than-expected jobs data spurs indices to a new high. While Asian markets on Friday opened in the green as markets set to end the best 2 weeks in recent times with huge gains for indices.

Another important trigger to domestic markets, Foreign Institutional Investors (FIIs) on Thursday bought shares worth Rs 348.52 crore in cash, bought Rs 381.7 crore in index futures.

The Nifty on Thursday closed at a fresh new all-time high as IT, FMCG, and realty stocks led the gainers with the Nifty crossing 17,200. Midcaps continue to see value buying.