MARKET: Sensex pares gains, up 50pts; Nifty holds 17,400; RIL, Airtel weigh

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Opening Bell

LIVE market updates: Equities extended their buying spree into third straight session on Friday amid broad-based buying. The S&P BSE Sensex advanced 253 points, or 0.43 per cent, at 58,714 levels in early deals. The NSE Nifty, meanwhile, was at 17,461, up 60 points.

L&T, BPCL, Axis Bank, Kotak Bank, and L&T were the top gainers on the 50-pack index while Nestle India, Hindalco, Tata Consumer Products, Bajaj Auto, and HUL were the top laggards.

In the broader markets, the BSE MidCap and SmallCap index rose 0.34 per cent and 0.5 per cent, respectively.

Sectorally, barring the Nifty FMCG and Pharma indices, which were down 0.11 per cent and 0.35 per cent, respectively, all other indices were in the green.

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Pre-open session

LIVE market updates:

Benchmark indices are looking poised to extend their winning ways into third straight session. The BSE Sensex was up 99 points at 58,560 in pre-market session. The Nifty50 was up 23 points at 17,425.

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(Updated at 8:15 AM)

LIVE market updates: After two days of back-to-back rallies, the markets may look to take a breather on Friday, given the weekend factor and uncertainty surrounding the Omicron variant.

At 8:10 AM, SGX Nifty was at 17,374 compared with Nifty’s Spot close of 17,402 on Thursday.

Services PMI data, the outcome of OPEC+ meeting, and other global cues will sway the indices today.

Primary market activity

Today is the final day for subscription for the Tega Industries IPO, and second day for Anand Rathi Wealth IPO. Both the IPOs were fully subscribed on Day 1 of the issue itself.

Global cues

US stocks rallied on Thursday on hopes that Omicron may not severely impact economic recovery and continued dip in jobless claims. Dow Jones soared 1.8 per cent and the S&P 500 surged 1.4 per cent, while Nasdaq gained 0.8 per cent.

Oil prices exhibited high volatility on Thursday and eventually ended higher even as OPEC+ stuck to its decision to raise output in January. Brent Crude rose 1.2 per cent to $69.67 a barrel, and WTI Crude added 1.4 per cent to $66.50 a barrel.

However, markets in Asia had started trade on a negative note. Hang Seng has slipped over a per cent. Nikkei and Kospi were down 0.3 per cent each. Taiwan and Straits Times were marginally in red, while Shanghai Composite advanced 0.3 per cent.

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