Indian benchmark indices Sensex and Nifty began Friday trading, January 2, on a positive note. What began as a rally by Reliance Industries soon spread to other major blue-chip performers such as NTPC and Trent.
In the first half of the day, the Sensex jumped to an 85,606.55 high after gaining 417 points. Nifty jumped 126 points to record a 26,272.65 high.
Domestic institutional investors led the rally. NTPC stock rose 3 per cent following reports of the company signing NDAs with Russia’s Rosatom and France’s EDF to collaborate on deploying large pressurised water reactor projects in the country.
Other major Sensex gainers were Trent, Bajaj Finance, and Powergrid. Only ITC, UltraTech Cement, Bharti Airtel, and Titan were in the red in the morning session.
On Thursday, Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,525.89 crore, offsetting a bit of the Rs 3,268.60 crore offloaded by FIIs.
Friday morning trade was a recovery from Thursday, which saw the Sensex dip 32 points at close.