Sensex Surges Over 500 pts At Open, Nifty Above 17,000; Key Points

Sensex Today: The Indian fairness markets opened on a optimistic observe amid supportive world cues. The BSE Sensex soared 500 factors to 57,354, and the NSE Nifty50 superior 160 factors to 17,090.

Tata Steel, Bajaj Finserv, Power Grid, Titan, M&M, L&T, Wipro and Nestle led positive aspects on the Sensex, as much as 2 per cent increased. While Dr Reddy’s slipped probably the most, down 4 per cent after weak Q1 outcomes.

The broader markets additionally opened in inexperienced. The BSE MidCap and SmallCap indices had been as much as 0.9 per cent increased.

Global Cues

Asian shares took their cue on Friday from a late rally on Wall Street, as markets centered on a potential slowdown within the tempo of price hikes reasonably than a US recession after information confirmed its economic system shrinking for a second straight quarter.

Tokyo shares opened increased on Friday, extending rallies on Wall Street, after a contraction of the US economic system sparked expectations of a slowdown in Federal Reserve price hikes. The benchmark Nikkei 225 index was up 0.25 per cent, or 68.16 factors, at 27,883.64 in early commerce, whereas the broader Topix index edged up 0.02 per cent, or 0.36 factors, to 1,949.21.

US shares on Thursday rallied for a second day, with all three main indexes ending up greater than 1% as information displaying a second consecutive quarterly contraction within the economic system fueled investor hypothesis the Federal Reserve could not should be as aggressive with rate of interest hikes as some had feared.

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