Sensex, Nifty Rangebound After Opening Firm: Midday Market Update
At 12:14 pm, the Sensex gained 30 points, or 0.05%, at 60,828.86 while the Nifty 50 rose 13 points, or 0.07%, to 18,095.15.
India's benchmark stock indices were rangebound after opening marginally higher on Friday, following positive signs from other markets.
Meanwhile, Asian markets shrugged off concerns about rising interest rates and economic risks to advance by Friday afternoon, just before the Lunar New Year holidays, which will halt trading in many Asian markets next week.
Hong Kong equities gained, while Japanese shares reversed small initial losses. U.S. futures rose after the selloff on Wall Street showed some signs of easing Thursday, when the S&P 500 fell for a third day.
At 12:14 pm, the S&P BSE Sensex gained 30 points, or 0.05%, at 60,828.86 while the NSE Nifty 50 rose 13 points, or 0.07%, to 18,095.15.
Tata Motors Ltd., Coal India Ltd., HDFC Bank Ltd., HDFC Ltd., and Power Grid Corp of India Ltd. were the top gainers amongst the NSE Nifty 50 constituents.
Whereas, Hindustan Unilever Ltd., Asian Paints Ltd., Nestle India Ltd., Bajaj Finance Ltd., and JSW Steel Ltd. were the top losers in the gauge.
The broader market indices were flat, with the S&P BSE MidCap easing 0.18% and the S&P BSE SmallCap remained unchanged.
Twelve out of the 19 sectors compiled by BSE Ltd. declined, while eight advanced in trade.
The market breadth was skewed in favour of the bulls. About 1,781 stocks rose, 1,573 declined, 169 remained unchanged on the BSE.