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Indian benchmark indices, Sensex and Nifty50, opened higher for the fourth consecutive day on Friday, led by gains in L&T and IT stocks , alongside rising expectations for positive triggers from the upcoming Union Budget. At 9:30 am, the BSE Sensex was up by 200 points, or 0.25%, at 76,912.
09. The Nifty50 gained 51 points, or 0.22%, trading at 23,300.
Among Sensex stocks, L&T, Titan, Maruti, Infosys, Adani Ports, and Power Grid opened higher, while ITC Hotels, Bharti Airtel, NTPC, Bajaj Finserv, and ICICI Bank opened lower. L&T shares surged nearly 5% in early trade despite reporting a Q3 profit miss, driven by a record high in new orders. Tata Consumer Products shares opened over 5% higher, despite missing December-quarter profit estimates due to higher tea prices.
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Data on Thursday showed US economic growth slowed in the December quarter, but remained robust enough for investors to expect the Federal Reserve to gradually lower rates this year. Indian equity markets are awaiting the outcome of the annual budget, scheduled for February 1, for key directional cues. The markets will remain open on that day.
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