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Nifty Opens Above 11050 Tracking Gains In US And Asian Markets

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Indices tracking major gains in the US and Asian markets opened Friday's session higher, Niftyat open was up 49.40 points at 11081.90, while Sensex traded with gains of 141.42 points at 37468.78.

Also, the sentiment in the market has been uplifted after reports came in that the finance ministry is working out ways to boost the capital markets which has been falling since the budget day due to heavy FII outflow. The measures suggested include withdrawal of surcharge of FPI, studying the implication of scrapping LTCG on equity on holding period over three years and a likely rejig of the tax rate on dividend.

Nifty Opens Above 11050 Tracking Gains In US And Asian Markets
 

In early trade Hexaware, Tata Chemical, Mahanagar Gas, UltraTech Cement, Endurance, UPL, Bajaj Finserv, Indiabulls Housing, Yes Bank, are among major gainers on the indices while losers include DHFL, Tech Mahindra, BPCL, HPCL and Page Industries.

Yes Bank on Thursday opened its QIP issue, the stock has been trading lower by 0.5% after sources confirm the QIP issue has closed and bids worth $750-800 million have been recieved.

Reliance Capital, Reliance Home Finance said its joint auditors have established that there are "no violations" as alleged by Price Waterhouse & Co Chartered Accountants LLP. "

DHFL said on Thursday that it will not be able to meet its upcoming payment obligation as the resolution plan is still pending with the creditors.

Better than expected trade data from China plus the intervention of Beijing in preventing the further free fall of the Yuan currency also lifted most Asian markets but the gains have been capped due to fresh US-China trade war worries.

Read more about: sensex nifty fpi surcharge
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