Markets Open Higher On Solid Global Cues

Benchmark indices opened the day higher as global cues remained strong and a recovery in the US indices were seen on Thursday.

On Friday the Sensex was tracking gains from across global markets particularly Asia and was trading higher by 340 points. The Nifty was higher by 105 points in trade.

Shares in HPCL rallied after the company reported a strong set of quarterly numbers. The board of the company also recommended a Final Equity Dividend of Rs.22.75 per Equity Share of face value of Rs.10. The stock of HPCL was up almost 5 per cent in trade.

Zee Entertainment too saw its shares rally after a good set of quarterly numbers. The company reported a consolidated profit at Rs 275.8 crore for the March 2021 quarter, driven by good operating performance. The stock of Zee Entertainment was up 3 per cent in trade.

Shares in State Bank of India were higher ahead of results to be announced later today. The stock was up 1% in trade. Among the stocks from the Nifty that lost ground were PowerGrid Corporation, HeroMoto Corp and SBI Life Insurance.

Among the Nifty stocks that gained were BPCL and IOC. Investors expect the markets to be volatile and largely move based on movement of global markets.