Global cues buoy indices; realty stocks rise
Mumbai, October 22, 2021
Positive Asian markets along with value buying buoyed India's key equity indices during the morning trade session on Friday.
Accordingly, the two key indices -- S&P BSE Sensex and NSE Nifty50 -- had a gap-up opening.
On the global front, Asian markets rose from the morning levels as Evergrande makes overdue bond payment.
Among domestic sectors, realty and banks made gains whereas metal stocks receded.
The 30-scrip sensitive index traded at 61,130.79 points around 12 p.m., up 2 07.29 points or 0.34 per cent.
The 30-scrip sensitive index opened at 61,044.54 points from its previous close of 60,923.50 points.
The NSE Nifty50 traded at 18,208.20, up 30.1 points or 0.16 per cent.
The NSE Nifty50 opened at 18,230.70 points from its previous close of 18,178.10 points.
"Volumes on the NSE are below recent average so far. Advance decline ratio is sharply positive," said Deepak Jasani, Head of Retail Research, HDFC Securities.
"Nifty could take further direction post European markets opening, but likely to end in the positive for the day."
According to Gaurav Garg, Head of Research at CapitalVia Global Research: "The Indian Benchmarks started on a positive note amid mixed global cues. Traders will be taking encouragement with Niti Aayog's statement that Indian economy is expected to grow 10.5 per cent in the current fiscal.
"Some support might come as rating agency ICRA stated that with half of the 15 high-frequency indicators recovering to the pre-pandemic levels in the second quarter."