Sensex Opens Flat; M&M, ICICI Bank Top Gainers, TCS, Infosys Weak
By Administrator_ India
The domestic stock markets have opened on a cautious note due to mixed global trends. Asian markets are mixed in early trading and trends on SGX Nifty indicate a cautious opening for the Nifty in India, with a 9-points gain. As of 9:20 am, the BSE Sensex is trading at 52,508.35, lower by 11 points and the NSE Nifty is at 15,683, up to two points.
Asia-Pacific stocks were mixed in Friday morning trade as investors look ahead to a closely-watched U.S. jobs report set to be released later.
The Nikkei 225 in Japan nudged higher by 0.3 percent and the Topix index gained 0.81 percent. South Korea’s Kospi rose 0.25 percent.
Overnight, the S&P 500 reached its sixth consecutive all-time closing high as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.
The Dow Jones rose 0.38 percent, the S&P 500 gained 0.52 percent and Nasdaq Composite added 0.13 percent.
Meanwhile, oil prices held steady on Friday after OPEC+ ministers delayed a meeting on output policy as the United Arab Emirates balked at a plan to add back 2 million barrels per day in the second half of the year.
U.S West Texas Intermediate (WTI) crude futures were up 5 cents at $75.28 a barrel and Brent crude futures inched up 4 cents to $75.88 a barrel.
On the stock-specific front, M&M, ICICI Bank, and Reliance Industries have gained almost a percent each to top the gainer’s list on the BSE. Titan, Bajaj Finserv, and Ultratech Cement are the other significant gainers among BSE stocks.