Nifty trades in green, above 17650, Sensex up 300 pts; Bank Nifty surges 500 pts, Metal in red

Indices opened Friday’s session in green. The BSE Sensex rose 422.7 or 0.71% to 60,354.94 and NSE Nifty 50 climbed 112.00 pts or 0.64% to 17,722.40.

Bank Nifty rose 469.35 pts or 1.15% to 41,138.65. Titan, IndusInd Bank, Bajaj Finance, State Bank of India and Bajaj Finserv were the top gainers while Power Grid, Nestle India, Tech Mahindra, HCL Tech and Reliance Industries Ltd (RIL) were the top losers.

Indian market not able to gain because of the Adani saga

“Despite a growth-oriented budget, drop in crude prices and upside in the global market, the domestic market is not able to gain because of the Adani saga having a ripple impact on the investors. In addition, the premium valuation of India continues to weigh down the performance compared to other emerging markets which are expecting an upside in the economy. The global markets are positive in an assumption of being in the last phase of the rate hikes.”

Top gainers/losers

Titan, IndusInd Bank, Bajaj Finance, State Bank of India and Bajaj Finserv were the top gainers while Power Grid, Nestle India, Tech Mahindra, HCL Tech and Reliance Industries Ltd (RIL) were the top losers.