Stock Market: Sensex Rises 160 Points, Nifty Around 19,450 On Global Cues. IT Gains

Stock update: On the 30-share Sensex platform, HCL, Infosys, TechM, TCS, Maruti, SBI were among the lead gainers. On the downside, PowerGrid, NTPC, M&M, Reliance, Axis Bank, Sun Pharma emerged losers

The two key equity benchmarks, Sensex and Nifty, opened with strong gains on Friday tracking strength in global markets. At 9.50 am, the BSE Sensex rose 168 points to 65,727. On the other hand, the NSE Nifty was trading at 19,470, up 56 points.

On the 30-share Sensex platform, HCL, Infosys, TechM, TCS, Maruti, SBI were among the lead gainers. On the downside, PowerGrid, NTPC, M&M, Reliance, Axis Bank, Sun Pharma emerged losers.

Among specific stocks, JBM Auto surged 14 per cent on winning orders for 5,000 electric buses for supplying to various STUs.

In the broader markets, the BSE Midcap and Smallcap indices rose up to 0.7 per cent.

Sectorally, Nifty IT index extended gains and rose 1 per cent. Realty index too gained a per cent, while pharma and oil & gas pockets lagged with cuts. 

In the previous session on Thursday, the S&P BSE Sensex closed 165 points higher at 65,559, while the NSE Nifty50 ended with a modest gain of 29 points at 19,414.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading in the green. The US markets ended in the positive territory on Thursday.

Foreign Institutional Investors (FIIs) turned buyers on Thursday as they bought equities worth Rs 2,237.93 crore after a day's breather, according to exchange data.

Global oil benchmark Brent crude climbed 0.07 per cent to $81.42 a barrel.

Meanwhile, the rupee appreciated 12 paise to 81.96 against the US dollar in early trade on Friday, as a strong opening in domestic equity markets and a weaker greenback against major rivals overseas strengthened investor sentiments. However, strengthening crude prices in international markets capped the gains in the domestic unit, forex traders said.

At the interbank foreign exchange, the domestic unit opened strong at 81.97 against the dollar and then gained further momentum to 81.96, a gain of 12 paise over its previous close.

In the initial trade, the domestic unit was moving in a narrow range of 81.92-81.97 against the American currency. In the previous session on Thursday, the rupee had settled at 82.08 against the dollar.