Indian equities open higher, trade at fresh highest

Mumbai: Ahead of the Economic Survey 2017-18 which will be released in the Parliament on Monday, the key Indian equity indices opened trade session on a higher note.

According to market observers, expectation of sops from the Union Budget 2018-19, along with healthy buying in auto, metals and banking stocks, lifted investors risk-taking appetite.

Around 9.30 a.m., the wider Nifty50 of the National Stock Exchange, which opened at 11,079.35 points, traded at a fresh high of 11,126.80 points — up 57.15 points or 0.52 per cent — from its previous close.

On the BSE, the barometer 30-scrip Sensitive Index (Sensex), which opened at 36,106.36 points, traded at a fresh level of 36,309.11 points — up 258.67 points or 0.72 per cent from its previous close.

The BSE market breadth was bullish as 1,313 stocks advanced against 553 declines.

During intra-day trade, the Nifty50 scaled a new high of 11,131.55 points and the Sensex of 36,313.72 points.

On the last trading session on Thursday, the equity indices had closed in the red on the back of heavy selling pressure in auto, IT and consumer durables stocks.

The Nifty50 fell by 16.35 points or 0.15 per cent to close at 11,069.65 points, while the Sensex closed at 36,050.44 points — down 111.20 points or 0.31 per cent.