Markets: The key indices opened on a higher note for the second straight day on Friday with the BSE Sensex higher by 235.76 points to 33,184.97, while the NSE Nifty-50 rose 77.15 points to 10,243.85. The shares of Mahindra and Mahindra, PowerGrid, Sun Pharma rose in the morning hours, whereas the shares of Hero MotoCorp and Adani Ports fell.
Stock Movements: HDFC Standard Life Insurance’s shares gained 1.18 percent to Rs 393 as the HDFC group companies is going to announce its Q2 earnings after getting listed.
Shares of Jet Airways India Ltd declined 3% after the company reported 91 percent fall in its net profit to Rs. 49.63 crore in Sept quarter from Rs549.02 crore.
Shares of SAIL India rose 3 percent in view of its board clear JV with Arcelor Mittal next week.
IPO Watch: The IPO by Future Supply Chain Solutions got subscribed 0.72 times in the second day of the bidding process, receiving bids for 50,41,014 shares.
Rupee Watch: The Indian rupee opened little changed against the US dollar. The domestic currency opened at 64.55 per dollar and was trading at 64.58 a dollar, down 0.02 percent from its Thursday’s close of 64.57.
Commodity – Oil: The Oil prices fell on Friday as the U.S dollar built up, though OPEC-led supply cuts are seen supported in the markets.