Indian markets recover, Sensex rallies 1,000 points in early trade

Mumbai: Indian markets rallied on Friday’s early session, tracking Asian markets and US stocks. S&P BSE Sensex went up more than 1,000 points in the start of the session and was up 992 points to 61,609 level at 10.30 am whereas Nifty50 was up 283 points to 18,311.95 level.

In broad-based indices, S&P BSE LargeCap went up 104 points to 7,110 points with stocks like Zomato, Naukri, Bajaj Finance as most active ones on the index.

BSE MidCap moved up 130 points to 25,558.73 level as Godrej Properties and NHPC were gainers in the index.
Among the most active stocks in Nifty50, Infosys shares went up 4.30 per cent and TCS was up 3.94 per cent.

Most of the IT stocks were up in the morning trade.

The BSE IT was up 3.58 per cent to 1026.63 level with Mindtree, Infy, Latent View, LTI, Birla Soft as most active ones in the index. All the Sensex components were trading higher in the early trade on Friday.

Gains in the early deals were led by Infosys, Wipro, Tech Mahindra, Tata Steel, HCL Technologies and IndusInd Bank.

In global markets, dollar had steep losses after a smaller-than-expected increase in US consumer prices fuelled hopes that the Federal Reserve could tone down its aggressive pace of interest rate hikes. Dow Jones is up 3.70 per cent, Nasdaq is up 7.35 per cent, every stock market indexes in Europe is trading in the green territory as well as Asian stock markets indexes like Nikkei 225 are Hang Seng have also gained till now.

Mainland China stocks opened 2.1 per cent higher, while Hong Kong shares shot up 6.5 per cent in early trade.

Meanwhile, the IPO of Kaynes Technology India got subscribed 23 per cent on the first day of subscription. The Initial Public Offering (IPO) received bids for 24,29,325 shares against 1,04,70,246 shares on offer, according to NSE data.