Indian benchmark indices started Friday’s trading session on a muted note influenced by global cues. The Nifty 50 index declined by 29 points to 22,374.20 in the early trade while the BSE Sensex lost 149 points to 73,548 at the time of filing this report.
Ajay Bagga, Banking and Market Expert, said “Selling by FIIs moderated on Thursday. As and when FIIs liquidate their huge short positions in the derivatives markets, the Indian indices will witness an upsurge”.
Mahindra & Mahindra surged more than 6 per cent to a record high after the announcement of March quarter results. Tata Motors, Grasim, and BPCL also made it into the top gainers list after gaining more than 1 per cent.
SBILIFE, Axis Bank, Sun Pharma, Adani Ports and IndusInd Bank were the top losers of the day.
The commodity market saw gains, with WTI crude on pace for a third day of increase and gold slightly higher. Bitcoin traded above USD 65,000 after stabilizing from a prior decline.
In the US, the Dow Jones Industrial Average index crossed the 40,000 level for the first time on Thursday amid hopes of rate cuts by the Federal Reserve in the coming months.
(Inputs from ANI)