Markets Trade Higher; Bajaj Finance Surges 6% on Q1 PAT
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Indian stock markets (Sensex, Nifty) trade higher early Friday, driven by Bajaj Finance''s 6% surge on strong Q1 PAT, foreign fund inflows, and lower crude oil prices.
Mumbai, Jul 31 (PTI) Stock market benchmark indices Sensex and Nifty were trading higher in early deals on Friday tracking a sharp rally in Bajaj Finance, foreign fund inflows and a decline in crude oil prices.
Profit-taking in IT stock, however, restricted markets rally during the initial trading.
The 30-share BSE Sensex advanced 49.91 points to 77,970.95 in early trade. The 50-share NSE Nifty went up by 28 points to 24,343.65.
From the Sensex pack, Bajaj Finance jumped over 6 per cent after the firm on Thursday reported a 28 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 6,081 crore for the June quarter of FY27, driven by growth in core income and improvement in asset quality.
Bajaj Finserv, Mahindra & Mahindra, Bharat Electronics, Maruti, InterGlobe Aviation, Adani Ports and Sun Pharma were also among the winners.
Infosys, Tata Consultancy Services, HCL Tech, Tech Mahindra, ITC and HDFC Bank were among the major laggards.
Foreign Institutional Investors (FIIs) bought equities worth Rs 3,623.51 crore on Thursday, according to exchange data.
Brent crude, the global oil benchmark, traded 0.98 per cent lower at USD 88.16 per barrel.
In Asian markets, South Korea's KOSPI rebounded sharply and jumped 14.28 per cent. Japan's Nikkei 225 index and Shanghai's SSE Composite index also quoted in positive territory, while Hong Kong's Hang Seng index traded lower.
US markets ended significantly higher on Thursday.
On Thursday, the Sensex ended 273.55 points, or 0.35 per cent, higher at 77,928.15. The Nifty went up by 66.95 points, or 0.28 per cent, to end at 24,317.15.
Profit-taking in IT stock, however, restricted markets rally during the initial trading.
The 30-share BSE Sensex advanced 49.91 points to 77,970.95 in early trade. The 50-share NSE Nifty went up by 28 points to 24,343.65.
From the Sensex pack, Bajaj Finance jumped over 6 per cent after the firm on Thursday reported a 28 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 6,081 crore for the June quarter of FY27, driven by growth in core income and improvement in asset quality.
Bajaj Finserv, Mahindra & Mahindra, Bharat Electronics, Maruti, InterGlobe Aviation, Adani Ports and Sun Pharma were also among the winners.
Infosys, Tata Consultancy Services, HCL Tech, Tech Mahindra, ITC and HDFC Bank were among the major laggards.
Foreign Institutional Investors (FIIs) bought equities worth Rs 3,623.51 crore on Thursday, according to exchange data.
Brent crude, the global oil benchmark, traded 0.98 per cent lower at USD 88.16 per barrel.
In Asian markets, South Korea's KOSPI rebounded sharply and jumped 14.28 per cent. Japan's Nikkei 225 index and Shanghai's SSE Composite index also quoted in positive territory, while Hong Kong's Hang Seng index traded lower.
US markets ended significantly higher on Thursday.
On Thursday, the Sensex ended 273.55 points, or 0.35 per cent, higher at 77,928.15. The Nifty went up by 66.95 points, or 0.28 per cent, to end at 24,317.15.
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