The markets on Friday morning opened higher after being in the red for three consecutive days with Sensex at 65,454.56, up by 213.88 points and Nifty was at 19,457 with a gain of 73.35 points. Titan, JSW Steel, Mahindra and Mahindra, Bajaj Finance and Asian Paints were the top gainers in the morning session, whereas Sun Pharma, Bharti Airtel, Power Grid and Hindustan Unilever were among the losers.
Aditya Birla Fashion, BHEL, Britannia, Century Ply, Delhivery, Everest, Fortis, IDFC Bank, Mahindra and Mahindra, MapmyIndia, State Bank of India and Welcorp shares will be in focus today as they announce their first quarter results.
Markets on Thursday
The benchmark indices ended on a negative note on Thursday for the third consecutive session due to weak global cues. The Sensex fell 502.37 points to end the day at 65,280.41 and the Nifty was at 19,391.50, down by 135.05 points. Nifty Bank slipped 413.65 points to 44,582.05.
US markets continued with its losing streak on Thursday after another rise in Treasury yields. The treasury yields rose to a new high of 4.198 per cent, the highest since November 2022. The Dow Jones Industrial Average lost 66.63 points at 35,215.89, the S&P 500 closed 11.5 points lower at 4,501.89 and Nasdaq Composite shed 11.77 points at 13,985.21.
The Asian stock markets were trading mixed on Friday with Hong Kong's Hang Seng gaining 363.47 points to 19,784.34 and GIFT Nifty exchange gaining 34.50 points to trade at 19,486. On the other hand, South Korea's KOSPI was flat with a drop of 0.13 points at 2,605.26 and Japan's Nikkei 225 fell 3.50 points to 32,155.79.
Oil prices on Friday morning were trading higher for the second day and is set for the sixth week of gains. This comes after Russia and Saudi Arabia, the world's largest crude producers, announced to cut output through the next month. Brent crude futures for October gained 27 cents to $83.47 per barrel and US West Texas Intermediate crude rose to $79.78 per barrel up by 29 cents. On Wednesday both benchmarks were trading at their highest levels since April however closed down 2 per cent.
Indian rupee opened flat on Thursday at 82.74 per dollar against Thursday's close of 82.73.