The BSE Metal is the top losing index on Friday’s morning session. It is down 0.4% at 11077. Tata Steel and Vedanta are contributing majorly to the index losses and dragging it to lower levels. Tata Steel is down by 1.8% at Rs 488 per share and Vedanta is also down by 0.8% at Rs 229 per share. Other stocks in the index such as National Aluminium Company is down by 0.8% at Rs 66 per share and Hindalco is down by 0.8% at Rs 195 per share. The Nifty metal index is trading lower on Friday than its previous close. On the NSE, JSW Steel is down by 0.13% at Rs 195 per share, APL Apollo Tubes is down by 0.11% at Rs 1448 per share, Hindustan Zinc is down by 0.06% at Rs 238 per share. Meanwhile, GMR Infrastructure is surging ahead on the BSE. It is up by 14% at Rs 17 per share. At 11 AM, the S&P BSE Sensex is trading at 31243 up 105 points, while NSE Nifty is trading at 9642 up 26 points. A total of 51 stocks registered a fresh 52-week high in trade today, while 32 stocks touched a new 52-week low on the NSE. The BSE Mid-cap Index is trading up 0.52% at 14772, while BSE Small-cap Index is trading up 0.29% at 15278. Some buying activity is seen in Telecom, Power and Realty indices, while Capital Goods, Oil & Gas and Metal indices are showing weakness on BSE. Bharti Airtel, Cipla, Adani Ports and Hero Motocorp are among the gainers, whereas Tata Steel, Power Grid, Hindalco and Vedanta are losing on the NSE.
At 9:15 AM, the BSE Sensex opened lower by 68 points at 31205, while the Nifty50 opened lower by 41 points at 9657 mark.
Lupin is the top Nifty gainer and Bajaj Auto is the top Nifty loser in the morning hours. There are 1100 advances, 315 declines and 453 unchanged stocks on NSE reflecting some positive bias floating in the market. The levels of 9,645-9,650 are likely to act as a strong barrier for the Nifty50. If it holds above these levels, a rally up to levels of 9,700-9,730 is likely to happen, while on the downside, the support for Nifty50 index is placed at levels of 9,550 and 9,500. The rupee opened at 64.35 per US dollar higher by 13 paise. On Thursday, the rupee strengthened by 3 paise to close at 64.48 a dollar level despite weaker-than-expected GDP numbers. The US stocks closed at record highs on Thursday. The strength on Wall Street came following the release of upbeat economic data, including a report from payroll processor ADP showing a jump in private sector employment in the month of May. The S&P 500 index surged 18 points to finish at 2,430. The Dow Jones Industrial Average advanced 136 points to end at 21,144. The Nasdaq Composite Index rose 48 points to close at 6,247. Most of the Asian markets were trading in the green on Friday. Japan’s Nikkei 225 has surged 242 points, surpassing the 20,000 mark for the first time since 2015. Hong Kong’s Hang Seng has risen 137 points, while China’s Shanghai Composite has shed 6 points.
