Stock Market Updates: BSE Sensex and NSE Nifty Opens in Green Today.
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Summary: Ahead of the Union budget the Indian equities opened higher.
On Friday morning, the benchmark equity indices, the Nifty50 and the BSE Sensex, were up. The NSE Nifty50 was up 142.45 points, or 0.61%, at 23,391.95, while the BSE Sensex was up 397.98 points, or 0.52%, at 77,157 at 10 AM.
Larsen & Toubro, Tata Consumer, Titan Company, Wipro, and Infosys topped the Nifty50's gains, with early trade seeing gains of high to 3.63%. Conversely, ITC Hotels, Bajaj Finserv, Bharti Airtel, Adani Enterprises, and Coal India were behind.
While equities in banking and financial services saw a decline, the IT, auto, FMCG, consumer durables, and pharmaceutical sectors all saw gains.
Investors are keeping a close eye on the proceedings as the Indian Parliament's Budget Session got underway today with the release of the Economic Survey for 2024–2025.
Concerns regarding the effects of U.S. President Donald Trump's immigration and trade policies, as well as the more general problem of the "overall economic slowdown," are anticipated to be voiced by the opposition. Additionally, the government has enumerated sixteen bills that it hopes to approve this year.
Identifying and deporting foreigners who are living in the country illegally is the goal of this legislation. Additionally, the opposition is likely to focus on India's position on AI and its perception of China's growing influence in the sector.
After overnight advances on Wall Street, Asian markets largely rose on Friday. The overall Topix index increased 0.04%, whereas Japan's Nikkei 225 increased 0.08%.
Markets in South Korea fell, with the small-cap KOSDAQ down 0.55% and the KOSPI down 1.04% following a four-day break. The S&P/ASX 200 increased by 0.55% in Australia.
In the meantime, the U.S. GDP grew by 2.3% yearly in the December quarter, which was just less than the 2.6% forecast. Strong company earnings reports from the prior quarter helped Wall Street close higher.
