The two key equity benchmarks, Sensex and Nifty, on Saturday opened on a positive note on the back of an uptick in financial stocks. At 10.30 am, the BSE Sensex jumped 152 points to 71,835. On the other hand, the NSE Nifty was trading at 21,664, up 41 points.
On the 30-share Sensex platform, PowerGrid, NTPC, HDFC Bank, Kotak Bank, Airtel, TechM were among gainers. On the down side, HUL, IndusInd Bank, Wipro, Nestle, M&M, TCS emerged losers.
Shares of HUL dropped 3 per cent after December quarter results. Hindustan Unilever Ltd on Friday reported an 1.08 per cent increase in consolidated net profit at Rs 2,508 crore in the third quarter ended December 2023.
In the broader markets, the BSE Midcap and Smallcap indices jumped 0.6 per cent each.
Sectorwise, most of the financial stocks were trading in the green. Buying is seen in the pharma, metal and power sectors, while auto, FMCG, oil & gas, and realty stocks were down.
In the previous session on Friday, the Sensex jumped 496 points to settle at 71,683 points, while the NSE Nifty50 climbed 160 points to close at 21,622 points.
The domestic indices, NSE and BSE, will be closed on January 22 (Monday) to mark the event of Ram Mandir consecration ceremony.
According to analysts, domestic equity markets are likely to witness subdued activity amid low participation from global as well as domestic investors. “As the breadth of the market is very strong, we expect the stock-specific bullish trend is likely to continue. In the near term, Nifty could face resistance at 21,850, while support is seen at 21,500,” Deepak Jasani, Head of Retail Research at HDFC Securities, said.
Asian stocks had ended on a mixed note. On Friday, the Dow and the S&P 500 set new record closing highs while the tech-heavy Nasdaq reached its best closing level in two years.
Global oil benchmark Brent crude declined 0.68 per cent to $78.56 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,689.68 crore on Friday, according to exchange data.
Meanwhile, the rupee gained 6 paise to settle at 83.07 against the US dollar on Friday, tracking robust buying in domestic equity markets and weak American currency overseas. However, strengthening crude oil prices and foreign capital outflows capped the sharp gain in the domestic currency, forex traders said.
At the interbank foreign exchange, the domestic currency opened at 83.15 and traded between the peak of 83.05 and the lowest level of 83.16 against the greenback. The local unit finally settled at 83.07 against the dollar, registering a gain of 6 paise against its previous close. On Thursday, the rupee settled 1 paisa higher at 83.13 against the US dollar.