Stock Market Live: Indian frontline indices Sensex and Nifty 50 started Friday’s session higher but Nifty is opening below 22,000 and Sensex around 72,500. Sensex inched 71.28, or 0.10 per cent higher at 72,475.40 while Nifty inched 33.50 points, or 0.15 per cent at 21,991.00.
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GIFT Nifty is trading at a premium of 42.50 points, or 0.19 per cent at 22,131.50 at the time of opening bell.
Despite rally in frontline indices, the broader markets are trading with a discount. Nifty Midcap 100 has slipped 41.00 points, or 0.08 per cent lower at 49,071.80 while Smallcap 100 inched 62.05 points, or 0.48 per cent higher at 15,918.90.
The Indian rupee opened a paisa stronger at 83.47 against US dollar as compared to Thursday’s close of 83.50. The Indian currency is trading in a narrow range against the US dollar as the support from positive domestic equities was negated by elevated crude oil prices. As per a PTI report citing forex traders, strength of the US dollar in the overseas market and significant foreign fund outflows dented investors’ sentiments.
Crude oil prices rose on Friday on the signs of an improving economy in China. The prices had edged up in the previous session to a one-week high on data of rising crude oil imports in China in April
Brent futures rose 37 cents, or 0.4 per cent, to $84.24 a barrel, while US West Texas Intermediate crude grew 41 cents, or 0.5 per cent, to $79.64.
In the Wall Street, softer-than-expected jobs growth in April has brightened investor sentiment this week.
-With inputs from agencies
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