At 9:27 am, the S&P BSE Sensex index traded 2.59 points higher at 48,693.39 while the broader NSE Nifty 50 benchmark quoted at 14,690.90, down 5.60 points or 0.04 per cent from its previous close.
Tata Steel was the top laggard in the Nifty50 universe, down 2.19 per cent. JSW Steel, M&M, Wipro, TCS and Adani Ports were among other gainers.
On the other hand, Asian Paints was the biggest gainer, up 6.60 per cent. UPL, Cipla, ITC, Dr Reddy’s and Britannia were among other gainers.
Most Asian markets were trading higher in Friday’s trade as the US benchmark yield dropped and inflationary tensions eased. Taiwan’s TWSE jumped 2.13 per cent, while Japan’s Nikkei climbed1.38 per cent. Australia’s ASX advanced 0.7 per cent and Seoul’s Kospi added 0.65 per cent. Hong Kong’s Hang Seng was up 0.37 per cent.
Wall Street put the brakes on a three-day losing streak with a broad stock market rally, powered by big technology companies and banks. The S&P500 index gained 49.46 points or 1.22 per cent to 4,112.50. The Dow Jones Industrial Average index rose 433.79 points or 1.3 per cent to 34,021.45. Tech heavy Nasdaq Composite climbed 93.31 points, or 0.72 per cent to 13,124.99.
Oil prices fell on Friday after dropping about 3 per cent a day earlier as coronavirus cases remained high in major oil consumer India and as a key fuel pipeline in the United States resumed operations after being shut due to a cyber attack. Brent crude oil futures were down 35 cents, or 0.5 per cent, at $66.70 a barrel, while West Texas Intermediate (WTI) was down 28 cents, or 0.4 per cent, at $63.54 a barrel.
THIS IS A DEVELOPING STORY. MORE TO COME…
