MARKET UPDATE: Sensex opened 320 points higher to 61,372 while the Nifty50 gained 87 points to 18,156
Published On: Monday, May 8, 2023 | By: Team KnowMyStock
Opening Bell: Indian Equity benchmark indices opened with nominal gains today (08 May 2023) tracking a sharp rally in US equities on Friday. The BSE Sensex opened 320 points higher to 61,372, and the NSE Nifty50 gained 87 points to 18,156. IndusInd Bank, Maruti, Tata Motors, HDFC twins, Nestle, and Wipro led gains on the Sensex, while Britannia, Hero Moto, and Bajaj Auto were the top Nifty winners. On the downside, Coal India, Adani Enterprises, Sun Pharma, L&T, and Tata Steel were among the few frontline losers. The broader markets also opened in tandem with benchmarks. The BSE MidCap and SmallCap indices rose up to 0.4 percent.
Sectorally, Nifty Auto, Realty, and Private Bank indices gained the most, up around 1 per cent each. Nifty PSB index, meanwhile, tumbled 1 per cent.
Shares of TCNS Clothing cracked 17 per cent after Aditya Birla Fashion and Retail signed a pact to acquire 51 per cent stake in the company for Rs 1,650 crore. ABFRL erased losses and was up 2 per cent.
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