Trends on SGX Nifty indicate a positive opening for stock markets with a 71 poitns gain. Benchmark Indices are expected to open on a slight positive note as indicated by trends on SGX Nifty. Dow Jones hit another fresh record high on low jobless claims data and all the major Asian markets also trading in green zone. Stock specific actions due to Q4 results can we seen in stocks like HDFC, Ultratech Cement, Dabur, Navin Fluorine, Kansai Nerolac, Godrej Agrovet etc. The key levels to watch on upside are 14,850 and 15,000, said Mohit Nigam, Head, PMS, Hem Securities.
At 09:04 IST, the Sensex was up 184.58 points or 0.38 percent at 49134.34, and the Nifty was up 76.10 points or 0.52 percent at 14800.90.
Today (May 7), around 25 companies including Housing Development Finance Corporation, Dabur India, Kansai Nerolac Paints, Cholamandalam Investment, Navin Fluorine, EIH and Godrej Agrovet, will announce their January-March quarter earnings .
In one of the steepest increases since daily price revision was started, petrol price on Friday was hiked by 28 paise per litre and diesel by 31 paise as oil companies raised rates for the fourth straight day to pass on to consumers the increase in international oil prices.
Petrol price in Delhi was increased to Rs 91.27 per litre from Rs 90.99 while diesel rates went up to Rs 81.73 from Rs 81.42, according to a price notification by state-owned fuel retailers.
Asian markets mixed
Asian markets were mixed on Friday with Japan's Nikkei 225 shedding 0.29 percent while the Topisx index traded flat. Kospi rose 0.15 percent while in Australia, the benchmark ASX 200 traded fractionally higher.