Market

Opening Bell: Market opens at record high, Nifty above 12,270; PSU banks in focus

Updated : December 20, 2019 09:58 AM IST

At 9:54 AM, the Sensex was trading at 41,742, up 68 points or 0.15 percent and the Nifty was at 12,276, up 17 points or 0.13 percent.

Nifty PSU Bank surged nearly 1 percent led by the gains in Syndicate Bank, Bank of Baroda, SBI and Canara Bank.

The Indian equity benchmark indices opened at a record high on Friday on the back of positive development on the US-China trade deal front as the US Treasury Secretary Steven Mnuchin said an initial agreement would be signed between the two countries in early January.

At 9:54 AM, the Sensex was trading at 41,742, up 68 points or 0.15 percent and the Nifty was at 12,276, up 17 points or 0.13 percent.

Broader indices were also trading slightly higher with Nifty Midcap100 and Nifty Smallcap100 up 0.32 percent and 0.45 percent respectively.

Nifty PSU Bank surged nearly 1 percent led by the gains in Syndicate Bank, Bank of Baroda, SBI and Canara Bank.

Bharti Infratel, SBI, Hero MotoCorp, Titan and Tata Motors were the Nifty50 top gainers while YES Bank, Britannia, Kotak Mahindra Bank, TCS and HDFC Bank were the top losers.

JM Financial's shares were trading nearly 5 percent higher on an intraday basis after the company board approved to raise capital and increases the FPI investment limit.

In Asia, however, shares snoozed near 18-month highs on Friday as trade thinned in the run-up to Christmas and investors seemed content to digest the chunky gains already made so far this month.

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