Opening bell: Indian market gets a bumper opening on Friday

Opening bell: Indian market gets a bumper opening on Friday

by 5paisa Research Team Last Updated: 2022-05-20T10:26:47+05:30

Domestic equity indices are trading with a gain of over 2% in early morning deals.

Overnight, the Wall Street indices ended slightly lower after losing all their grounds a day before. The Dow Jones Industrial Average fell 0.75%. Whereas, Nasdaq and S&P 500 also declined by 0.26% and 0.58%, respectively.

On the other side, all the Asian markets opened with a significant gain and traded upwards by more than 1%. Benchmark indicator SGX Nifty indicated a positive opening with a gain of 223 points. At 9:30 am, the BSE Sensex surged 1.93% and was trading at 53,809.34 levels. BSE MidCap also climbed by 1.77% and was trading at 22,460.28 levels, BSE SmallCap has similarly ascended by 1.89% and was at a level of 26,289.10. All the BSE Sensex stocks were trading in the green. The top-performing stocks were Tata Steel, Dr Reddy’s Laboratories and IndusInd Bank.  

The Nifty 50 index also zoomed today and was trading at 16,123.45 levels, up by 1.99%. Bank Nifty similarly jumped up and traded at 33,954.05 levels. Gainers on the Nifty 50 were JSW Steel, Tata Motors and Dr Reddy’s Laboratories Ltd.

The market outlook was positive as out of 2764 stocks traded, the numbers of stocks advanced were 2312 and 374 stocks declined in the morning session. A total of 165 stocks were locked up in the upper circuit and 86 stocks were locked in the lower circuit, 42 stocks were trading at a 52-week high and 11 stocks were trading at a 52-week low.

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