Stock Market Update: Sensex Gains 350 pts at Open, Nifty Reclaims 17,900; Key Points


Sensex Today: The Sensex and Nifty indices started in the green on Friday morning amid firm cues from overseas. Frontline indices Nifty50 rose 100 points to trade above 17,900 levels and the S&P BSE Sensex climbed over 350 points to trade above 60,000 levels.

Broader markets, too, climbed in tandem as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.6 per cent.

IndusInd Bank, ICICI Bank, SBI, HUL, Tata Steel were top contributors to the benchmark indices.

All sectors opened in sea of green with Nifty Bank and Nifty Metal indices leading the charge.

Global Cues

Asian shares crept higher as the dollar eased, with markets turning calmer after a record interest rate hike from the European Central Bank and hawkish comments from the U.S. Federal Reserve Chair reinforced bets of aggressive tightening ahead.

Tokyo stocks opened higher on Friday after Wall Street gains despite the European Central Bank’s largest rate hike ever and more hawkish comments from the US Federal Reserve. The benchmark Nikkei 225 index was up 0.49 percent, or 138.54 points, at 28,203.82 in early trade, while the broader Topix index was up 0.08 percent, or 1.52 points, at 1,959.14.

Wall Street’s main indexes posted gains on Thursday mainly lifted by financial institutions and healthcare companies, as investors digested hawkish remarks from policymakers that cemented bets of a large interest rate hike later this month.

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