Indian equity benchmark indices opened higher on Friday with the Nifty starting the May futures & options (F&O) series above 17,300, as global cues remained positive overnight. Investors will continue to track the geo-political developments and the rise in Covid-19 cases in India and globally.
At 09:16 am, the 30-scrip Sensex was up 217.92 points or 0.38 percent at 57,738.98, and the broader Nifty up 60.40 points or 0.35 percent at 17,305.40.
About 1,436 shares have advanced, 463 shares declined, and 82 shares are unchanged.
Sun Pharma, IndusInd Bank, Kotak Bank, Dr Reddy, HDFC Life, Tata Steel, Grasim Industries and UPL were among the major gainers on the Nifty.
SBI Life Insurance, Axis Bank, Hero MotoCorp, Divis Labs and HUL were among the major laggards.
The broader markets were also in green with the BSE MidCap and SmallCap indices gaining up to 0.73 percent.
In the primary market, Rainbow Children’s Medicare IPO continued to receive a slow response and was subscribed 55 percent at the end of day 2 of the subscription period.
Meanwhile, Campus Activewear IPO was subscribed 51.75 times on the final day, with the institutional portion subscribed 152 times, wealthy investors and retail categories being subscribed 22.3 times and up to 7.7 times, respectively.
Global Markets
Straits Times and Taiwan were up over a percent each in Asia on Friday, while Kospi gained 0.8 percent. China’s Shanghai Composite was up 0.3 percent.
Overnight, the US markets rallied strongly after robust earnings from Meta Platforms (Facebook parent) lifted beaten-down tech shares. Dow Jones jumped 1.9 percent, the S&P 500 surged 2.5 percent and Nasdaq soared 3.1 percent.
Meanwhile, oil prices bounced back as Russia continued its onslaught on Ukraine. Brent crude futures rose 2.2 per cent to $107.59 a barrel, and WTI oil was up 3.3 per cent at $105.36 a barrel.
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