Indian stock markets opened higher on Friday with Sensex up over 200 points in early trade while Nifty reclaimed 11,650. Asian markets were mostly higher today on hopes of a US-China trade deal. China and the United States claimed progress in talks to end their trade war, with US President Donald Trump talking up prospects for a “monumental” agreement that may still be some weeks away.
Indian markets extended gains today, hitting new milestones. The Sensex jumped over 350 points to hit 39,000 for the first time, overtaking its earlier all-time high of 38,989, hit in August last year. The broader Nifty also advanced to 11,715, less than 50 points away from its all-time high of 11,760. This week marks the beginning of a new financial year and all eyes are set on the Lok Sabha elections scheduled to be held in seven phases, beginning April 11. The BSE Sensex had surged 8% in March on the back of $6.5 billion year-to-date inflows from foreign institutional investors.
BSE Sensex and Nifty edged higher led by gains in Larsen & Toubro, HDFC, ITC, NTPC and HDFC Bank. The S&P BSE Sensex rose as much as 137 points or 0.36 per cent to 38,524.09 and the NSE Nifty 50 Index rose above its psychologically important level of 11,550 as the index advanced 0.39 per cent or 45 points to 11,566. In Wednesday’s session, the Sensex and Nifty took a breather after a seven-day up move as they ended little changed owing to weekly expiry of derivative contracts.
Indian equity benchmarks fell sharply ahead of Reserve Bank of India’s monetary policy decision amid weak global cues. The S&P BSE Sensex fell 0.55 percent or 195 points to 35,938 and the NSE Nifty 50 Index declined 0.65 percent or 70 points to 10,798.
Indian equity benchmarks extended gains for the third day. The S&P BSE Sensex Index rose as much as 0.46 percent to 35,675 and the NSE Nifty 50 Index rose as much as 0.36 percent to 10,724.50.
The Indian rupee was trading marginally weaker against US dollar as traders avoided taking long positions ahead of Reserve Bank of India’s key board meeting due later on Monday.