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Stock market today: Sensex, Nifty open higher amid crude price pullback; Tata stocks in focus
Stock market today: Tata group stocks were in focus on Friday after Tata Sons reappointed N Chandrasekaran as chairman, reversing his earlier decision
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Benchmark indices Sensex and Nifty opened marginally higher on Friday, September 18, numbers driven by an ease in crude oil prices, although continued international tensions over Middle East and heavy demand for domestic initial public offerings was likely to cap upside.
In pre-opening minutes, Sensex was hovering around 74,613.12, up by 298.53 points or 0.40 per cent.
Tata group stocks were in focus on Friday after Tata Sons reappointed N Chandrasekaran as chairman, reversing his earlier decision to not seek a reappointment. Tata Sons said it would consider a public listing, while shareholder Shapoorji Pallonji Group has proposed selling part of its stake.
Previous day's stock market numbers
Sensex and Nifty closed nearly flat on Thursday as caution prevailed after the US Federal Reserve increased its interest rates and indicated further tightening in monetary policy.
The 30-share BSE Sensex dipped 21.86 points, or 0.03 per cent, to settle at 74,314.59. During the day, it climbed 341.11 points, or 0.45 per cent, to 74,677.56, according to figures cited in a PTI news agency report.
The 50-share NSE Nifty closed higher by 53 points, or 0.23 per cent, at 23,270.60. The index hit a day's high of 23,363.55.
Among the 30 Sensex firms, HDFC Bank, Titan, ICICI Bank, State Bank of India, Bharti Airtel and Axis Bank were the major laggards.
Tata Steel, Bharat Electronics, InterGlobe Aviation, Eternal, Maruti and Asian Paints were among the gainers.
"Indian equities ended mixed on Thursday after a range-bound session. The Nifty edged up to 23,270, while the Sensex slipped marginally to 74,314 and Bank Nifty declined to 56,055. Selective buying supported the Nifty, but weakness in private-sector banks and IT stocks limited the broader recovery," PTI news agency quoted as saying Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a Research Analyst firm.
