Stock Market Today: Sensex Gains 250 Points, Nifty Above 16,650

India’s key benchmark indices opened higher on Friday as indicated by SGX Nifty and strong global cues.  

The BSE Sensex rose 250 points to 55,916, and the NSE Nifty50 gained 72 points to 16,677.

Ultratech Cement, Tata Steel, Nestle, Tech M, M&M, Kotak Bank, were the major gainers on the Sensex, while L&T and Infosys were the laggards.

The broader markets also opened in green. The BSE MidCap and SmallCap indices were up to 0.5 per cent higher.

Ahead of today’s trading session, Nifty futures were trading 48 points, or 0.29% higher at 16,666.00 on the Singapore Exchange, signaling that Dalal Street was headed for a positive start. 

In the previous session, BSE Sensex ended 284 points higher at 55,681.95, and NSE Nifty 50 settled above 16,600. 

Global cues were positive as Wall Street’s main indexes rose on Thursday boosted by a late-afternoon rally and gains in heavyweight growth stocks, and Asian markets were also trading higher in morning deals today.

Meanwhile, Rupee gained 4 paise against US dollar to hit 79.91/$ in early trades.

Besides, Reliance Industries will announce its fiscal first-quarter results today. Mukesh Ambani-led oil-to-telecom conglomerate is expected to have continued its robust growth in the April-June quarter, this time helped by stronger refining profitability, better telecom ARPU, and growth in the retail segment. 

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