look news india
Mumbai: Equity benchmark indices rose in early trade amid fresh foreign fund inflows in a special trading session on Saturday, leading the 30-share BSE benchmark Sensex to open 158.01 points higher at 74,075.04. While NSE Nifty rose 53.75 points to 22,519.85.
Power Grid, Nestle, Asian Paints, IndusInd Bank and Tata Steel were the major Sensex constituents. JSW Steel and Axis Bank were the laggards. Whereas Wall Street closed mostly on gains on Friday.
The Dow Jones Industrial Average reached 40,000 for the first time, boosted by a weaker-than-expected April inflation report that boosted optimism about a rate cut by the Federal Reserve in September.
Business increased on Saturday
Prashant Tapse, senior VP (research), Mehta Equities Ltd, said the positive sentiment extended to Indian markets, where Nifty was trading between 22,000-22,500. It faces resistance at 22,500 and support at 22,000.
Foreign institutional investors (FIIs) turned buyers on Friday after several days of continuous withdrawals. According to exchange data, it bought equity worth Rs 1,616.79 crore on Friday.
