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Benchmark equity indices opened on a positive note on Friday
Sensex, Nifty Today
Stock Market Updates: Benchmark equity indices, BSE Sensex and Nifty50, were trading higher on Friday morning.
At 10 AM, the BSE Sensex stood at 77,157, up by 397.98 points or 0.52%, while the NSE Nifty50 was 142.45 points or 0.61% higher at 23,391.95.
The Nifty50’s gains were led by Larsen & Toubro, Tata Consumer, Titan Company, Wipro, and Infosys, which saw increases of up to 3.63% in early trade. On the other hand, ITC Hotels, Bajaj Finserv, Bharti Airtel, Adani Enterprises, and Coal India were among the top laggards.
Similar to the benchmarks, the broader markets also opened in positive territory.
Sector-wise, IT, Auto, FMCG, Consumer Durables, and Pharma indices were all in the green, while Banking and Financial Services stocks traded lower.
As the Budget Session of the Indian Parliament began today with the presentation of the Economic Survey for 2024-25, investors are closely monitoring the proceedings. The Opposition is expected to raise concerns about the impact of U.S. President Donald Trump’s trade and immigration policies, as well as the broader issue of the “overall economic slowdown.” The government has also listed 16 bills it aims to pass during the session.
Among these bills is one aimed at tightening laws for identifying and deporting foreigners residing illegally in the country. Additionally, India’s stance on AI and its view on China’s rising prominence in the field are likely to be key points highlighted by the Opposition.
Global Cues
Asian markets mostly advanced on Friday, following gains on Wall Street overnight. Japan’s Nikkei 225 rose 0.08%, while the broader Topix index gained 0.04%.
In Japan, the consumer price index, excluding fresh food, climbed 2.5% year-on-year in January, matching Reuters’ forecast, up from 2.4% in the previous month. Retail sales in Japan for December grew by 3.7%, and industrial output rose by 0.3% month-on-month in December, recovering from a 2.2% drop the previous month.
South Korea’s markets saw a decline, with the KOSPI down 1.04% after a four-day break, and the small-cap KOSDAQ lost 0.55%. In Australia, the S&P/ASX 200 rose 0.55%.
Meanwhile, U.S. GDP for the December quarter increased by 2.3% annually, slightly below the expected 2.6%. Wall Street ended higher, driven by strong corporate earnings reports from the previous quarter.
Gold prices surged to a record high, and the U.S. dollar strengthened amid risks stemming from President Donald Trump’s tariff plans.
U.S. stocks closed higher on Thursday after digesting key earnings reports, with the Dow Jones rising by 0.4%, the S&P 500 increasing by 0.5%, and the Nasdaq gaining about 0.25%. However, technology stocks, such as Nvidia and Broadcom, faced significant declines due to concerns about low-cost Chinese AI models.
U.S. economic growth slowed in Q4 but remained robust enough to suggest that the Federal Reserve would only make gradual rate cuts. The U.S. Treasury yield fell by 3.9 basis points to 4.516%.
President Trump’s trade policies continue to present risks for the Fed’s outlook, with tariffs on Canada, Mexico, and possibly China expected on Saturday. Both the Mexican peso and the Canadian dollar weakened by about 0.5% against the U.S. dollar in response to this news.
The European Central Bank cut interest rates on Thursday, reiterating that inflation in the eurozone is increasingly under control despite global trade concerns. The STOXX 600 index in Europe hit a new record high, rising 0.86%, following earnings reports from Deutsche Bank, Shell, and H&M.
The yen strengthened by 0.65% to 154.25 per dollar, with the Bank of Japan signaling continued interest rate hikes if economic conditions align with forecasts.
In commodities, gold prices surged by about 1.3% to reach $2,792 an ounce, setting a new record as the dollar weakened. Oil prices also saw a slight rise, with Brent crude up 0.4% at $76.87 per barrel, and U.S. crude rising 0.2% to $72.73 per barrel, despite concerns over potential U.S. tariffs on Canadian and Mexican crude imports.
