Markets Open Higher, Reliance Shares Fall Post AGM

Markets opened the day on Friday marginally higher, even as global markets were strong with the US markets closing higher on Thursday.

Most of the Asian markets were higher after the S&P 500 closed at a new record high. Dow Futures were pointing to higher openings on Friday as well.

The Sensex was trading with gains of 20 points, while the Nifty was up 4 points in trade. Reliance Industries stock was in the limelight a day after the company's annual general body meeting. The company expects partnership with Saudi Aramco to be formalised in expeditious manner during this year. The shares dropped 1.6% on Friday, following an almost similar drop on Thursday.

PTC shares were higher after the company reported higher net profit at Rs 49.77 crore in Q4FY21 against Rs 47.96 crore in Q4FY20.

LIC Housing Finance shares were up after reports that LIC is going infuse equity capital worth about Rs 2,334.69 crore in its subsidiary LIC Housing Finance by preferential allotment of upto 4,54,00,000 equity shares of Re 2 at Rs 514.25 per share.

Among the Nifty losers were IndusInd Bank, HUL, NTPC and Kotak Mahindra Bank.

Meanwhile, the rupee opened marginally higher at 74.16 to the dollar.