Stock markets update: Equity benchmark indices opened higher in early trade on Friday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 470.92 points to 75,082.03. Meanwhile, the Nifty was also up by 139.5 points to 22,787.70 points.
Major gainers and losers
From the Sensex basket, Bajaj Finance jumped 6 per cent, while Bajaj Finserv climbed nearly 5 per cent. The Reserve Bank of India (RBI) has lifted restrictions on Bajaj Finance on sanctioning and disbursal of loans through eCOM and Insta EMI Card, the company said in a regulatory on Thursday.
In November last year, the central bank had directed Bajaj Finance to stop sanction and disbursal of loans under its two lending products — eCOM and Insta EMI Card — due to the company’s non-adherence to the extant provisions of digital lending guidelines.
NTPC, ICICI Bank, Tata Steel and JSW Steel were the other major gainers. Bharti Airtel, Maruti, Asian Paints and Larsen & Toubro were among the laggards. In Asian markets, Seoul and Hong Kong were trading in the positive territory while Shanghai quoted lower. Wall Street ended with gains on Thursday.
Rupee against dollar
Meanwhile, the rupee climbed 9 paise to 83.37 against the US dollar in early trade on Friday, tracking strong sentiment in the domestic equity markets and a weak American currency against major rivals overseas. Forex traders said the outflow of foreign funds and elevated level of crude oil prices, however, weighed on the Indian currency.
At the interbank foreign exchange, the domestic unit opened strong at 83.40 and touched the intra-day peak of 83.36 against the greenback.
The local unit later traded at 83.37 against the dollar in the morning deals, registering a gain of 9 paise from its previous closing level. The rupee had settled 3 paise lower at 83.46 against the dollar on Thursday.
(With PTI inputs)
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