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This article is more than 1 year old.

Opening Bell: Sensex gains over 200 points, Nifty around 12,050; metal stocks rise

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At 9:17 am, the BSE Sensex was trading 277 points higher at 40,859 and the Nifty50 was trading 75 points higher at 12,047.

Opening Bell: Sensex gains over 200 points, Nifty around 12,050; metal stocks rise
The Indian market opened higher on Friday, following global markets which traded in the green after President Donald Trump said the country had reached a "deal in principle" with China. A likely major election win by Britain’s Conservative Party also boosted the global sentiment.
However, weak macro data — retail inflation jumping to a 40-month high of 5.54 percent in November and the index of industrial production (IIP) contracting by 3.8 percent in October — are expected to cap gains.
At 9:17 am, the BSE Sensex was trading 277 points higher at 40,859 and the Nifty50 was trading 75 points higher at 12,047. Nifty Midcap and Nifty Smallcap indices were also up 0.4 percent each.
Tata Motors, Vedanta, Tata Steel, Hindalco, and Yes Bank were the top gainers on the Nifty50 index, while Dr Reddy's, Kotak Bank, Zee, and Infosys led the losses.
All sectoral indices, except Nifty Pharma, were trading in the green in the opening trade. The Nifty Metal index rose the most, up 2.3 percent, while Nifty PSU Bank added 1.5 percent at opening. Nifty Auto also advanced over 1 percent and Nifty Bank and Nifty IT gained 0.5 percent each. Nifty Pharma slipped 0.4 percent in the opening deals.
Metal stocks rallied amid optimism from the US-China trade deal. Vedanta, Hindalco, Tata Steel, SAIL, and NALCO rose between 2.5-4 percent.
In Asia, Japan's Nikkei climbed 2.1 percent to a 14-month high, while South Korean stocks firmed 1.2 percent. E-Mini futures for the S&P 500 rose 0.4 percent to another peak. MSCI’s broadest index of Asia-Pacific shares outside Japan put on 0.5 percent.
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