Stock market gains in opening trade amid India-Pak border tensions
Both Sensex and Nifty reversed their seven-day uptrend and settled lower on Thursday, amid profit-taking and disappointing Q4 earnings of Hindustan Unilever.
The stock market on Friday opened on a positive note amid the ongoing border tensions between India and Pakistan.
The BSE benchmark Sensex was trading above 261.93 points at 80,063. On the other hand, NSE Nifty was up by 114.75 points at 24,361.45.
On Thursday, both Sensex and Nifty had reversed their seven-day uptrend and settled lower amid profit-taking and disappointing fourth quarter earnings of Hindustan Unilever.
The 30-share BSE benchmark declined 315.06 points or 0.39 per cent to settle at 79,801.43 on Thursday (PTI)
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Selling in blue-chips ICICI Bank, Bharti Airtel and a largely muted trend in Asian and European equities also dragged the markets down, PTI reported.
The 30-share BSE benchmark declined 315.06 points or 0.39 per cent to settle at 79,801.43. During the day, it dropped 391.94 points or 0.48 per cent to 79,724.55.
The NSE Nifty went down by 82.25 points or 0.34 per cent to 24,246.70.
In the past seven trading days, the BSE benchmark gauge zoomed 6,269.34 points or 8.48 per cent and the Nifty jumped 1,929.8 points or 8.61 per cent.
Global, Asian stock surge
Asian stocks climbed on Friday, buoyed by a rally on Wall Street, strong earnings from Google parent company Alphabet, and the prospect of diffusing tensions in US President Donald Trump's trade war, AFP reported.
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US stocks rallied for a third straight session Thursday, shrugging off signs US trade deals with China and the European Union aren't imminent.
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US stocks rallied for a third straight session Thursday, shrugging off signs US trade deals with China and the European Union aren't imminent.
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The Nikkei rise came despite struggling Japanese auto giant Nissan issuing a stark profit warning on Thursday, forecasting a huge loss of up to $5.3 billion in the 2024-25 financial year.
In the US market, S&P 500 technology sector jumped 3.5% on the day, the most of any sector in the benchmark index.
Shares of Google parent Alphabet were up more than 3% in after-hours trading following the release of its first-quarter results, including earnings that beat analysts' expectations. The stock ended the regular session up 2.5%.
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