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Opening Bell: Sensex opens over 100 points higher, Nifty above 12,250; Infosys top gainer

Opening Bell: Sensex opens over 100 points higher, Nifty above 12,250; Infosys top gainer

Opening Bell: Sensex opens over 100 points higher, Nifty above 12,250; Infosys top gainer
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By Mousumi Paul  Jan 10, 2020 9:37:20 AM IST (Updated)

The Indian equity benchmark indices opened higher on Friday following optimism in the global markets over the de-escalation of US-Iranian tensions.

The Indian equity benchmark indices opened higher on Friday following optimism in the global markets over the de-escalation of US-Iranian tensions.

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Infosys was the top gainer ahead of its Q3FY20 earnings today. The Street expects the company to raise its FY20 constant currency revenue guidance.
The Sensex opened 115.85 points or 0.28 percent higher at 41,568.20 while the Nifty50 surged 55.10 points or 0.45 percent at 12,271. Broader markets too gained.
Nifty Realty remained the top-performing Nifty50 index followed by Nifty Pharma, Nifty IT, and Nifty FMCG.
Bharti Infratel, Kotak Mahindra Bank, Bharti Airtel, Infosys and HDFC Bank were the top gainers while Power Grid, JSW Steel, Zee Entertainment, ICICI Bank and Asian Paints led the losses.
The share price of Tata Steel rose nearly 1 percent intraday after the company’s Q3FY20 sales volume increased by 17 percent QoQ to 4.84 million tonnes, with improved market sentiment. In the case of its European operations, the production and sales volume were flattish QoQ while South-East Asia registered lower production volume.
Ajmera Realty’s shares rallied 16 percent intraday after the stock broke its 200-DMA level. The stock has been rising since January 7 after the company approved the proposal of an internal restructuring of the company. Since the last three trading sessions, the stock has jumped over 26 percent.
Meanwhile, on the front of the global market, the world's shares hit a record high as relief over de-escalation of US-Iranian tensions quickly prompted investors to bet on faster global growth, especially in the technology sector.
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