Indian equities opened higher on Friday, taking some breather after sharp sell-off in the previous session, undermining weak cues from Asian peers. Overseas, the Asian stocks were trading flat, following negative closing of US stocks in overnight trade, with Japan’s Nikkei 225, as investor remained jittery amid expectations of market volatility. Shares of TCS fall 1 per cent even after the IT bellwether reported 22.6 per cent growth in consolidated net profit at Rs 7,901 crore for the quarter ended September 30, 2018, from Rs 6,446 crore a year earlier.
At 9:21 hours, the 30-share benchmark index was trading at 34494.21, up by 493.06 points or by 1.45 per cent, and the NSE Nifty was at 10331.55, up by 96.9 points or by 0.95 per cent.
The top gainers of the BSE Sensex pack were YES Bank Ltd. (Rs. 249.75,+4.06%), Mahindra & Mahindra Ltd. (Rs. 755.00,+3.40%), Axis Bank Ltd. (Rs. 596.00,+2.62%), Asian Paints Ltd. (Rs. 1247.00,+2.55%), IndusInd Bank Ltd. (Rs. 1632.15,+2.50%), among others.
On the flip side, Tata Consultancy Services Ltd. (Rs. 1960.00,-1.00%), Infosys Ltd. (Rs. 674.65,-0.05%), were among top losers on the BSE.
Among the thirteen sector indices, auto and oil&gas stocks emerged as top gainers on BSE, rising as much as 2.39 per cent and 2.31 per cent, respectively.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1152, shares advanced were 944 while 178 shares declined and 30 were unchanged.