NIFTY50 opens above at 25,000, SENSEX rises 234 points, tracking global cues; Infosys gains 2%

Among sectors, Nifty Realty (0.53%), Nifty Metal (0.47%) and Nifty IT (0.40%) were the main contributors while, Nifty FMCG (-0.41%), Nifty PSU Bank (-0.22%), and Nifty Media (-0.05%) slipped in the opening session Tracking global cues, the Indian equity market opened higher for the seventh consecutive session on Friday, September 12. At 9:17 AM, the S\&P BSE SENSEX rose 234.30 points, or 0.29%, to the 81,783.03 level, while NSE’s NIFTY50 was at the 25,065.40 level, gaining 59.90 points, or 0.24%. Among sectors, Nifty Realty (0.53%), Nifty Metal (0.47%) and Nifty IT (0.40%) were the main contributors while, Nifty FMCG (-0.41%), Nifty PSU Bank (-0.22%), and Nifty Media (-0.05%) slipped in the opening session. The broader market also opened with gains, with both Nifty Midcap 100 and Nifty Smallcap 100 rising 0.29% and 0.07%, respectively. Investors will keep a track on market watchdog SEBI meeting scheduled for today. SEBI's board is likely to discuss a raft of regulatory reforms during its upcoming meeting on Friday. Also read: Infosys announces its largest-ever buyback programme worth ₹18,000 crore; key details you need to know Infosys gained 2% as the IT services giant’s board approved its largest-ever share buyback programme worth ₹18,000 crore. According to exchange data, on Thursday, the foreign institutional investors (FIIs) sold shares worth ₹3,472.37 crore, while the domestic institutional investors (DIIs) bought equities worth ₹4,045.54 crore on a net basis. Globally, indices in Asia extended their rally on Friday following the US market amid high expectations of Federal Reserve rate cut next week. South Korea's KOSPI was up 1.21%, while Hong Kong's Hang Seng was trading up 1.61%, and the Shanghai Composite was also seen higher by 0.24%. Japan’s Nikkei index was seen at the 44,701 level, rising 0.73%. On Wall Street, the indices closed at new record highs on Thursday as tech stocks rallied and investors waiting for Fed meeting next week after US consumer and jobless data. The S\&P 500 rose 0.85% to end at 6,587.47 level, the Nasdaq climbed 0.72% to close at 22,043.08 points, while the Dow Jones rose 1.36% to settle at 46,108.00 level. Market statistics As many as 2,615 stocks traded on the NSE during the early session, among which only 1,689 were trading in the green, 860 were trading in the red, and 66 shares remained unchanged. This indicates that the market's breadth was favourable to advances. Meanwhile, 47 stocks hit their one-year highs in the early trade, while 15 stocks touched their 52-week lows. Also read: Dabur, Britannia: FMCG stocks trade lower amid this negative development; check details Almost 47 stocks hit their lower circuits, and 16 stocks hit their upper circuits. India VIX, the volatility gauge, was trading 1.64% lower at 10.19 levels. Top gainers and losers On the NIFTY50 index, 34 stocks advanced in the opening session, while 16 declined. Infosys took the lead among gainers, rising 1.82% followed by Hindalco Industries (1.33%), Maruti Suzuki (1.03%), Tata Motors (0.96%) and Eicher Motors (0.82%). On the contrary, Hindustan Unilever (-1.01%), Wipro (-0.72%), Nestle India (-0.67%), Eternal (-0.56%) and HDFC Bank (-0.43%) were the biggest losing stocks on the 50-share index. To add Upstox News as your preferred source on Google, click here.