Stock markets update: Equity benchmark indices jumped in early trade on Friday amid strong trends in Asian markets and amid positive global cues. In the early trade, the 30-share BSE Sensex gained 569.93 points to 77,725.72. Meanwhile, the Nifty also jumped 173.75 points to 23,523.65.
Top gainers and losers
Excluding the Power and Metal sectors, all other sectoral indices traded in the green. Notably, PSU Bank, IT, and Realty indices registered a 1% increase each. Among the top gainers on the Nifty were Apollo Hospitals, ICICI Bank, SBI, Power Grid Corp, and HDFC Life. Meanwhile, stocks like Adani Ports, Adani Enterprises, Mahindra & Mahindra, Axis Bank, and Hero MotoCorp saw declines.
Asian markets see mixed performance
According to the media report, Asian markets witnessed an uptick on Friday, particularly driven by semiconductor companies, as investors shrugged off initial concerns over Nvidia Corp's revenue outlook. Gold prices also surged. Markets in Australia, Japan, and South Korea performed well, whereas Hong Kong and China saw declines, influenced by a 1% dip in the index of US-listed Chinese stocks on Thursday. The MSCI Asia Pacific Index recorded a 0.7% rise.
Rupee against dollar
Meanwhile, the rupee opened on a flat note and rose just 3 paise from its all-time low level to 84.47 against the US dollar in morning trade on Friday, as the support of positive domestic equities was negated by geopolitical pressures and unabated foreign portfolio outflows. The US dollar strengthened in the overseas market and Brent oil continued to move up as fighting between Ukraine and Russia continued to gain investors' attention.
Moreover, foreign institutional investors have continued their equities selling mode and kept the dollar well bid. At the interbank foreign exchange, the rupee opened at 84.48 and moved in a tight range and touched 84.47 against the greenback, registering a gain of just 3 paise over its previous close. On Thursday, the rupee depreciated 8 paise to settle at an all-time low of 84.50 against the US dollar.
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