Trending:

Indices start on a positive note; Sensex jumps 500 points tracking global peers, Nifty above 17,650

The BSE Sensex climbed 521 points to 59,296 in early trade while the NSE Nifty jumped 163 points to 17,17,686. The major contributors to the benchmark indices were M&M, Tata Steel, Titan, Infosys while Bharti Airtel, Dr Reddy's, Asian Paints were among the drags. Shares of Titan gained 2 per cent.

ET Now Digital

Updated Aug 26, 2022, 10:18 IST

Indices start on a positive note; Sensex jumps 500 points tracking global peers, Nifty 17,650

New Delhi: Domestic benchmark indices opened on a positive note on Friday led by bulls. Both Sensex and Nifty reversed the fag-end sell-off in Thursday's trade. Asian shares rose on Friday, buoyed by news of possible progress for China and the US to hammer out an audit deal, while traders anxiously awaited a speech from Federal Reserve Chair Jerome Powell on rate-hike path later in the day.

On the stock-specific front, shares of Titan gained 2 per cent on the company's expansion plans overseas. Nelco scrip zoomed 10 per cent after its tie-up with Intelsat on in-flight connectivity services.

Shares of IDBI Bank also soared nearly 4 per cent after news that the government and country’s largest insurance company LIC is mulling to sell at least 51 per cent of state-backed IDBI Bank.

All sectors opened in the green zone in line with the indices. Nifty Auto, Nifty Metal, Nifty PSU Bank led the pack. Similarly, broader markets were in the green as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 1 per cent.

In international markets, Wall Street ended sharply higher on Thursday, lifted by gains in Nvidia and other technology-related stocks as investors focused on the Federal Reserve's Jackson Hole conference for clues about the central bank's policy outlook.

Meanwhile, Fed Chair Jerome Powell is due to give a speech on Friday that investors will dissect for indications of how aggressively the Fed may move to raise interest rates as it battles decades-high inflation.

Latest News