Domestic benchmark indices are trading in the green, albeit outside the all-time highs earlier in the day, thanks to a strong position in Reliance Industries and buying interest in auto stocks. The BSE Sensex had crossed 58,000 for the first time, reaching a record high of 58,115.69 and the NSE Nifty index had crossed 17,300 when the bell opened. At 12:30 PM, the BSE Sensex is trading at 57,962.52, up 110.50 points or 0.19 percent and the NSE Nifty at 17,274.50, up 39.60 points or 0.22 percent. The broader markets are trading firms, with the BSE Midcap Index and the BSE Smallcap Index gaining 0.3 percent and 0.4 percent, respectively.
In the foreign exchange market, the rupee opened flat on Friday at 73.04 per dollar, against Thursday’s closing rate of 73.06.
On a stock-specific basis, Reliance Industries gained 2.8 percent to top the list of winners on the BSE. The car space also went strong; Bajaj Auto, Hero Motocorp and Maruti Suzuki each won 1.3 percent. And Eicher Motors rose 3.15 percent to Rs 2,819 on the sale of its stake in its insurance business to HDFC Life. Tata Steel and Titan are the other major winners in the BSE package.
On the other hand, HDFC Life lost more than 3 percent to top the list of losers on the BSE after the insurance giant signed a deal to buy Eicher Motors’ insurance business. Hindustan Unilever, Axis Bank and HDFC are the other big losers.
Overall market size is positive as 1,705 shares advanced against 1,351 declining shares on the BSE.