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Opening Bell: Tata Steel, JSW Steel and Hindalco Industries help Nifty regain 16,000

Opening Bell: Tata Steel, JSW Steel and Hindalco Industries help Nifty regain 16,000

Opening Bell: Tata Steel, JSW Steel and Hindalco Industries help Nifty regain 16,000
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By CNBCTV18.com May 20, 2022 9:41:26 AM IST (Published)

Bouncing back from a huge selloff on Thursday, the Sensex and Nifty started today's session on a positive note amid gains in Asian markets and US equity futures. Both Sensex and Nifty were trading over 1 percent each. JSW Steel, Hindalco Industries, Tata Steel, Tata Motors and Hero MotoCorp were among major gainers on the Nifty.

Indian equity benchmark indices opened on a positive note on Friday with Nifty above 16,000, amid strength in Asian markets and US equity futures.

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At 09:16 am, the 30-scrip Sensex was up 773.08 points or 1.46 percent at 53,565.31, and the broader Nifty was up 240.40 points or 1.52 percent at 16,049.80.
About 1,547 shares have advanced, 257 shares declined, and 64 shares are unchanged.
JSW Steel, Hindalco Industries, Tata Steel, Tata Motors and Hero MotoCorp were among major gainers on the Nifty.
NTPC, Amara Raja Batteries, IDFC Ltd, Indigo Paints, Mindteck India and Nuvoco Vistas will be in focus as these companies will announce their Q4 results today.
In the primary market, Paradeep Phosphates IPO was subscribed 1.8 times on the final day of the offer period. The retail portion was subscribed 1.4 times, QIBs 3.1 times while the HNI portion was subscribed up to 82 percent only.
Ethos IPO closes for subscription on Friday. The issue so far has garnered just 44 percent subscription, with the retail portion subscribed up to 68 percent.
Apart from it, FMCG pack may see some action as Indonesia mulls lifting the palm oil export ban.
Global Markets
Among major markets in Asia, Hang Seng soared 2.3 percent. Nikkei, Shanghai, Straits Times and Kospi were up around 1-1.5 percent each.
Meanwhile, Brent crude futures ended 2.7 percent higher at $112.04 a barrel, and WTI oil was up 2.4 percent at $112.21 a barrel on Thursday.
Overnight, in the US, Dow Jones ended 0.7 percent lower, the S&P 500 fell 0.6 percent and Nasdaq slipped 0.3 percent. However, the futures were seen holding gains of up to 1 percent this morning.
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