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Benchmarks Sensex and Nifty50 may start on a positive note on Friday, tracking strong global cues
Stock Market Outlook
Sensex Today: Indian benchmark indices gave up early gains in Friday’s trade, dragged down by weakness in pharma and metal stocks.
As of 1 PM, the BSE Sensex was up 106.12 points or 0.13% at 80,348, while the Nifty 50 slipped 41.35 points or 0.17% to trade at 24,292.85.
Among Sensex constituents, Adani Ports led the gains, rising 4.27%, followed by IndusInd Bank (1.68%), Bajaj Finance (1.48%), and Maruti Suzuki (1.37%). On the flip side, Nestle India, NTPC, Bharti Airtel, Ultratech Cement, and HUL declined by around 1% each.
In the broader market, the Nifty Midcap100 fell 0.47%, while the Nifty Smallcap100 held steady with a marginal 0.02% gain. Sectorally, IT, Auto, Bank, and Oil & Gas indices traded in the green, whereas Energy, FMCG, Pharma, and Realty indices were under pressure.
Global Cues
Asian markets were buzzing in trade, tracking Wall Street. Nikkei led with a gain of 1.10 per cent, followed by Asia Dow of 0.72 per cent, ASX 200 up 0.63 per cent, and Kospi up 0.11 per cent. Shanghai Composite, on the other hand, traded lower by 0.32 per cent.
Meanwhile, overnight in the US, major indices settled higher, with tech-heavy Nasdaq leading the charge. Nasdaq ended 1.52 per cent higher, while Dow Jones settled 0.21 per cent higher, and S&P 500 closed 0.63 per cent higher.
US 10-year Treasury yields rose to 4.23 per cent despite signs of economic contraction and flat inflation in March. Safe-haven gold slipped to a two-week low amid easing trade tensions and a holiday in top consumer China.
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