New Delhi, May 27 (SocialNews.XYZ) Domestic equity benchmark indices extended their gains from the previous session and traded in the green during trade on Friday amid firm global cues.
Indian markets opened higher in line with Asian markets and sharply positive overnight US markets.
At 9.58 a.m., Sensex was at 54,615.81 points, up 363.28 or 0.67 per cent, whereas Nifty at 16,293.55 points, up 123.40 or 0.76 per cent.
Bajaj Finance, Bajaj Finserv, HDFC Life, HCL Technologies and Indusind Bank shares were the top five gainers among the Nifty 50 companies.
"Market data indicate that the weakness in the US market is coming to an end. The Fed minutes suggest pausing by year end after front-loading rate hikes," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Also, there were indications of the US economy slowing Adown which will enable the US Fed to be less hawkish than the market discounted, he said.
In the current situation, high quality large-caps can stage a rally, besides leading banks are the safe bets.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
