Markets maintain their winning momentum for the 6th day

MUMBAI: Benchmarks got off to a strong start on Friday with the BSE sensex climbing over 293 points in early trade amid further buying by foreign funds and broadly positive global market trends. BSE’s 30-stock benchmark index advanced 293.33 points to 55,975.28 in early trade. The largest NSE Nifty climbed 92.5 points to 16,697.75.
Among sensex constituents, Kotak Mahindra Bank, HDFC, Titan Company, UltraTech Cement, ICICI Bank, HDFC Bank, State Bank of India and Reliance Industries were trading in the green.
Infosys, IndusInd Bank, NTPC and ITC were trading lower.
In Asia, markets in Tokyo and Hong Kong were trading higher, while Seoul and Shanghai were trading lower.
US markets ended higher on Thursday.
Foreign institutional investors remained net buyers on Thursday, buying shares worth Rs 1,799.32 crore, according to exchange data.
The benchmark BSE index climbed 284.42 points or 0.51% to settle at 55,681.95 on Thursday. The Nifty rose 84.40 points or 0.51% to 16,605.25.
“The domestic market is expected to get off to a positive start on Friday on the back of optimism in other global equity indices as falling crude oil prices and easing bets on the US Fed’s rate hike gave investors relief. major, triggering a rally in recent sessions.
“In the domestic market, FIIs have started to gain exposure to local equities, with a net purchase of Rs 1,799 crore in yesterday’s trade,” said Prashanth Tapse, Vice President (Research), Mehta Equities. Ltd, in its pre-opening market commentary. .

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