Benchmark equity indices opened on a positive note on Friday, tracking firm global cues. Investors were keenly awaiting Infosys NSE 0.21 % results scheduled for later in the day.
The BSE Sensex opened 47.67 points, or 0.13 %, high at 36,154.17, while the NSE Nifty index opened 13.15 points, or 0.12 %, up at 10,834.75.
As many as 35 stocks in the Nifty index were trading higher with YES Bank NSE 0.00 % gaining 1.40 % ,followed by Tata Motors (up 0.97 %), ITC (up 0.83 %), Indian Oil Corporation (up 0.54 %) and Indiabulls Housing Finance (up 0.46 %).
On the other hand, Tata Consultancy Services (TCSNSE -1.96 per cent), Bharti Airtel, Tech Mahindra, HPCL and Wirpo slipped down as 0.48 % and 1.20 % in early deals.
Shares of TCS negative by 1 % despite it reported 24.1 % growth in net profit at Rs 8,105 crore for the quarter ended December 2018. It had posted a net profit of Rs 6,531 crore in the same period last fiscal as per Indian accounting norms. Brokerage firm HDFC Securities maintained ‘Buy’ on TCS with a target prices of Rs 2430.
Market participants are looking ahead at Index of industrial production (IIP) data for November 2018 to be out later in the day.
The Securities and Exchange Board of India (Sebi) on Thursday announced portfolio concentration norms for equity exchange-traded funds (ETFs) and index funds. Sebi’s new guidelines are meant to address risks related to portfolio concentration in ETFs and index funds. According to the new norms, the index shall have a minimum of 10 stocks as its constituents.
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The US markets settled higher Thursday after Federal Reserve Chairman Jerome Powell reiterated the central bank’s willingness to adjust its pace of interest-rate increases if economic conditions weaken. Asian markets were trading in cash on Friday in early deals, after Federal Reserve Chairman Jerome Powell reiterated the US central bank can be patient on raising interest rates further.
The Dow Jones Industrial Average gained 122.80 points, or 0.51 %, to close at 24,001.92, the S&P 500 gained 11.68 points, or 0.45 %, to settle at 2,596.64 and the Nasdaq Composite closed 28.99 points, or 0.42 %, higher at 6,986.07.
Back home, the 30-share Sensex dipped over 100 points on Thursday on account of selling in banking shares amid some profit booking. Sensex closed 106.41 points, or 0.29 %, low at 36,106.50 in the previous trading session, while the broader Nifty shed 33.55 points, or 0.31 %, to settle at 10,821.60.
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