Indian markets rebound, with the Sensex gaining 1,000 points in opening hours

Following the lead of Asian markets and US stocks, Indian markets rose early on Friday. By the beginning of the day, the S&P BSE Sensex had risen more than 1,000 points, and at 10.30 am, it was up 992 points to 61,609, while the Nifty50 was up 283 points to 18,311.95.

S&P BSE LargeCap, one of the broad-based indices, increased 104 points to 7,110 points, with the most active stocks on the index being Zomato, Naukri, and Bajaj Finance. BSE MidCap increased by 130 points to a new high of 25,558.73 as Godrej Properties and NHPC contributed to the index’s gain. Infosys shares increased 4.30 percent, and TCS shares increased 3.94 percent, making them two of the most active Nifty50 firms. The majority of IT stocks rose in the morning.

The BSE IT index increased 3.58 percent to a level of 1026.63, with Mindtree, Infy, Latent View, LTI, and Birla Soft among the index’s most active companies. Early on Friday, all Sensex constituents were trading higher. Infosys, Wipro, Tech Mahindra, Tata Steel, HCL Technologies, and IndusInd Bank were the companies that saw the most success in the early deals.

A smaller-than-expected rise in US consumer prices fuelled hopes that the Federal Reserve might scale back its aggressive pace of interest rate hikes, which led to sharp losses for the dollar on international markets.

The Dow Jones is up 3.70%, the Nasdaq is up 7.35%, all European stock market indices are trading in the green, and Asian stock market indices, including the Nikkei 225 and Hang Seng, are all up so far.

Hong Kong shares soared 6.5% in early trade while mainland China stocks began 2.1% higher.

On the first day of subscriptions, 23% of the Kaynes Technology India IPO was subscribed. According to NSE data, bids for the Initial Public Offering (IPO) of  1,04,70,246 shares on offer were outnumbered by 24,29,325 bids.

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