Headline indices scaled new highs for a second day at Friday’s open, tracking strength across global markets. The BSE Sensex index gained 250 points to 67,774, and the Nifty50 index edged 55 points higher to 20,173.
MandM, JSW Steel, Wipro, Tata Steel, HDFC Bank, HCL Tech, Bajaj Auto, and Hindalco were the frontline winners across Sensex and Nifty, gaining up to 2 per cent. On the flip side, HUL, Asian Paints, Nestle, Adani Ports, and HDFC Life were among the top losers.
The broader markets kept the lead over benchmarks. The BSE MidCap and SmallCap indices rose up to 0.7 per cent.
“Positive opening could be seen in local indices owing to optimism across the global equities, as fear of recession appears bleak after the recent policy measures by central banks across key economies. However, intra-day volatility will continue given the uncertainty around global markets. As long as the Nifty is trading above 20,000, the bullish sentiment is likely to continue, with a potential rally till 20,200-20,250-20,300,” said Shrikant Chouhan, Head of Research (Retail) at Kotak Securities.