Indian equities started on a positive note on Friday as India’s retail inflation de-grew to a five-month low in March and industrial production jumped by a healthy 7.1% in February.
After opening higher, the domestic markets extended gains very quickly with shares of India’s IT giants Tata Consultancy Services and Infosys leading the turnover.
Within 15 minutes of trade, about Rs 173 crore worth of shares of Infosys and TCS were traded ahead of Infosys Q4 and year-end results.
The benchmark Sensex gained 134.96 points to a day’s high of 34,236.09 whereas the broader Nifty added 39.2 points to mark a day’s top of 10,497.85 on Friday.
Shares of Adani Ports, ICICI Bank, Dr Reddy’s, Axis Bank, Kotak Mahindra Bank and Tata Steel were the top gainers on the BSE Sensex index today.
All the sectoral indices of NSE were trading in green barring the Nifty IT index. Shares of Fortis Healthcare jumped 2.73% to Rs 158 after Fortis Healthcare received an “unsolicited binding offer” from Hero Enterprise Investment Office and Burman Family Office to invest Rs 1,250 crore in the company through preferential allotment route.
The industrial production for the month of February rose to 7.1% while the consumer price inflation slipped to a five-month low of 4.28% in March, as per the data released by the Central Statistics Office (CSO).
The uptick in industrial production has been driven largely by the robust performance of the manufacturing sector coupled with the higher offtake of capital goods and consumer durables.
BSE Sensex opened at 34,167.53, up by 66.4 points or 0.19% and NSE Nifty started the day at 10,495.3, up by 36.65 points or 0.35%.
US stocks climbed on Thursday as investors anticipated a strong earnings season and as U.S. President Donald Trump’s suggestion that a military strike on Syria may not be imminent ratcheted down geopolitical worries.
The Dow Jones Industrial Average rose 293.6 points, or 1.21 percent, to 24,483.05, the S&P 500 gained 21.8 points, or 0.83 percent, to 2,663.99, and the Nasdaq Composite added 71.22 points, or 1.01 percent, to 7,140.25.>