Mumbai, 29 May. The Indian stock market opened in the green in Friday’s session due to strong global cues. At 9:24 am, the Sensex was at 76,080, up 213 points or 0.28 per cent, and the Nifty was at 23,951, up 44 points or 0.20 per cent. IT shares were leading the market rise in early trade. Nifty IT was the top gainer among the indices. Apart from this, Nifty PSU Bank, Nifty Realty, Nifty Pharma, Nifty Media, Nifty Healthcare, Nifty Private Bank, Nifty Services, Nifty Energy and Nifty Commodity were in the green. Nifty India Defence, Nifty Infra, Nifty PSE and Nifty Consumer Durables were in the red.
There was mixed trading in midcap and smallcap. The Nifty Midcap 100 index was marginally up by 18 points at 62,578 and the Nifty Smallcap 100 index was up by 50 points at 18,345. Infosys, Trent, HCL Tech, TCS, Maruti Suzuki, Tech Mahindra, L&T, Axis Bank, Bajaj Finance, ICICI Bank, UltraTech Cement, SBI, HUL and Titan were the gainers in the Sensex pack.
Bharti Airtel, ITC, IndiGo, HDFC Bank, Eternal, Kotak Mahindra, Sun Pharma and Bajaj Finserv were the losers. Most of the Asian markets are witnessing a rise. Tokyo, Hong Kong, Bangkok, Seoul and Jakarta were in the green. However, Shanghai was in the red. American stock markets closed in the green on Thursday. The Dow Jones closed up marginally by 0.05 percent and the Nasdaq closed up 0.91 percent. The reason for the rise in global markets along with India is the progress in peace talks between America and Iran. According to reports, America-Iran have agreed to an MOU (memorandum of understanding) for a 60-day ceasefire.
However, the final approval from US President Donald Trump is still pending. Reports said that the purpose of this agreement is to extend the ceasefire and start formal talks on the nuclear program. Besides, there will also be talks regarding opening of Hormuz Strait during this period. For this reason a decline is being seen in crude oil. Till the time of writing the news, WTI crude was down by 1.17 percent at $ 87.88 an ounce and Brent crude was down by 0.85 percent at $ 91.94 an ounce.
Comments are closed.