Sensex opens 493 pts higher, Nifty tops 14,500; M&M, L&T, NTPC lead rally

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Indian benchmark indices opened higher on Friday, tracking firm cues from Asian markets. The S&P BSE Sensex opened 493 points or 1.02 per cent higher at 48,933, and NSE Nifty 50 index belled 181 points or 1.27 per cent higher at 14,506. Among the individual stocks, Suryoday Small Finance Bank, Kalyan Jewellers will be in focus as they will stock market debut today.

On Thursday, Indian benchmark indices lower for the second straight session amid board-based selling as futures and options (F&O) monthly contracts expire today. The S&P BSE Sensex ended 740 points or 1.51 per cent lower at 48,440, and NSE Nifty 50 index fell 224.5 points or 1.54 per cent to settle at 14,324. The broader markets also witnessed bloodbath, with midcap and smallcap indices declining 2.19 per cent and 1.81 per cent, respectively. All sectoral indices ended in red, with auto and oil and gas stocks emerging as top losers, falling 2.7 per cent, each. Out of 30 stocks on BSE Sensex pack, only Dr. Reddy, HDFC, ICICI Bank and L&T ended in green, while remaining 26 shares ended lower. Maruti Suzuki, Bharti Airtel, Reliance Industries, HUL, Bajaj Finance, ONGC, NTPC, Ultratech Cement were among the top laggards. Positive cues from global markets failed to cheered market as spike in COVID cases and worries over lockdowns in several cities dampened investor sentiment. On the global front, Asian markets ended mostly higher while European markets too opened on a positive note.

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