The 30-share BSE Sensex opened 37.32 points or 0.05 per cent higher at 81,090.51 points. The NSE Nifty gained 18.25 points to 24,829.75.
Shares of microcap pharma company Remedium Lifecare hit an upper circuit for the third straight session on Friday. The counter opened at Rs 10.58 and gained around 5 per cent from the previous close of Rs 10.19 to touch the high of Rs 10.69. The 52-week high of Rs 42.44 and the 52-week low is Rs 8.37.
Meanwhile, equity benchmark indices Sensex and Nifty began the trade on a positive note on Friday but later pared gains to quote lower amid a muted trend in global markets and selling in IT stocks. Market analysts said investors are awaiting cues from the US Federal Reserve Chair Jerome Powell’s comments at Jackson Hole Symposium.
The 30-share BSE Sensex opened 37.32 points or 0.05 per cent higher at 81,090.51 points. The NSE Nifty gained 18.25 points to 24,829.75.
Later, both the benchmark indices pared their early gains and were trading in the negative territory. The BSE benchmark quoted 117.82 points or 0.15 per cent lower at 80,935.37 and the Nifty traded at 24,776.95, down by 34.55 points.
From the Sensex pack, Infosys, Titan, Tata Steel, UltraTech Cement, ITC, Tata Consultancy Services, Tech Mahindra and Asian Paints were the laggards.
On the contrary, Tata Motors, Reliance Industries, Sun Pharmaceuticals, Mahindra & Mahindra, Bajaj Finserv and ICICI Bank were among the gainers. “Globally the market’s focus on Friday will be on US Federal Reserve Chair Jerome Powell’s comments at Jackson Hole on the economy and the possible rate cut trend. Powell is likely to sound dovish indicating a rate cut in September,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
In Asian markets, Tokyo, Shanghai were trading higher, while Hong Kong and Seoul were quoting in the red territory on Friday.The US markets were closed lower on Thursday.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)