Opening Bell – Bulls dominate on D Street; Nifty opens up by 43 points
At 9:15 AM, the BSE Sensex opened higher by 153 points at 29575, while the Nifty50 opened higher by 43 points at the 9179 mark.
Bharti Infratel is the top Nifty gainer and Sun Pharma is the top Nifty loser. Infratel is trading higher by 3.25% at Rs 353.85 per share and Sun Pharma is trading lower by 1.55% at Rs 645.8 per share.
There are 1024 advances, 358 declines and 408 unchanged stocks on NSE reflecting strong positive undertone in the market.
ACC Limited and HDFC Bank will be in the limelight for the day as the companies are set to release their January-March quarter earnings. ACC Limited is trading at Rs 1507.55 per share down by 0.23%. HDFC Bank is trading at Rs 1468.5 per share up by 0.43%.
Nifty 50, going forward, needs to sustain above the level of 9,165 to extend its rally up to the levels of 9,200-9,220. On the downside, the level of 9,100 is an immediate support and the next support is placed around the level of 9,060.
The rupee opened at 64.64 per dollar lower by 8 paise.
The US stocks ended higher on Thursday as strong economic data and corporate earnings lifted the key benchmark indices. The Dow Jones Industrial Average advanced 174 points to 20,579, led by gains in American Express Co. after the credit card giant reported robust corporate earnings. The Nasdaq Composite Index surged 54 points. The S&P gained 18 points to 2,356.
Asian markets gained in early trade on Friday, tracking strong leads from the US markets. The Japan’s Nikkei 225 is trading higher by 152 points. Hong Kong’s Hang Seng has advanced 69 points and China’s Shanghai Composite has gained 4 points.