Nifty 50 opens at record high as Indian indices track Asian peers

India’s benchmark indices witnessed sharp gains during the opening session on Friday, with the Nifty 50 surging to a record high, buoyed by a positive trend in global markets.

The Nifty rose by 0.61 percent to a record high of 22,785.45 points, while the Sensex gained 0.63 percent to 75,080.05.

Bajaj Finance, Bajaj Finserv, Shriram Finance, Hindalco, and ICICI Bank were among the major gainers on the Nifty, while shares of Power Grid Corp, Maruti Suzuki, Eicher Motors, Dr Reddys Labs, and Divis Labs opened in the red.

The stocks of Bajaj Finance jumped by more than 6 per cent, while Bajaj Finserve gained more than 3 per cent after the strong buying trend in both the companies.

The shares of Kotak Bank opened with a marginal gain at Rs 1583. Kotak has declined more than 14 percent since the RBI barred the bank from onboarding new online customers and issuing new credit cards.

Investors will be watching several key companies like Titan, Britannia Industries, and Adani Green Energy, among others, which are scheduled to announce their earnings for the March FY24 quarter today.

Meanwhile, the Indian rupee showed modest improvement, opening at 83.39 against the dollar, up by 8 paise from the previous day’s close of 83.47.