Indices trade higher aided by metal stocks amid Asia boost

Indian shares rose in early trades on Friday, lifted by gains in metal stocks and strength in other Asian equities, as investors await domestic earnings reports for further cues on corporate health and U.S. jobs data for hints on future rate hikes.

The NSE Nifty 50 index climbed 0.17% to 18,083.20 as of 0350 GMT, while the S&P BSE Sensex was 0.13% higher at 60,917.81.

The benchmark indexes have added 1.5% each this week through Thursday and, if those hold, are on track for their third straight week of gains.

In broader Asia, equities rose on Friday, helped by Hong Kong and China stocks.

U.S. payrolls data is due later in the day, with any robust data likely to reinforce the Federal Reserve’s hawkish outlook. Fed Chair Jerome Powell repeatedly mentioned the robust labour market in his speech after the Fed rate hike earlier this week.

In domestic trading, Nifty’s metal index was the best performer among other sectors, rising 1.3%.

InterGlobe Aviation, Britannia Industries Ltd and GAIL (India) Ltd were up between 0.2% and 0.9% ahead of their quarterly results.

Source link

The Press Walla

The Press Walla is the India's fastest growing youth online magazine which covers all latest trending stories from entrepreneurship, business, entertainment etc

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button