Markets opened on a cautious positive note on Friday, May 15, buoyed by a record-breaking Wall Street session and constructive signals from the Trump-Xi summit in Beijing, even as a weak rupee, elevated crude oil prices, and domestic fuel price hikes kept gains in check.
The Sensex, which closed at 75,398.72 on Thursday, opened at 75,497.10 and was trading at 75,651.28, up 252.56 points or 0.33 per cent, as of 9.25 am. The Nifty 50, which ended the previous session at 23,689.60 — up 277 points — opened at 23,731.40 and was trading at 23,765.75, gaining 76.15 points or 0.32 per cent, as of 9.25 am.
Information technology stocks led the morning’s gains on the Nifty 50. Camphor and Allied Products (CAMPV) surged 5.62 per cent, opening at ₹352.00 and trading at ₹357.80. Infosys gained 2.58 per cent to ₹1,123.30, while Tech Mahindra rose 2.40 per cent to ₹1,375.70. TCS added 2.21 per cent to ₹2,295.60 and HCL Technologies climbed 2.00 per cent to ₹1,146.50.
The gains came even as IT stocks faced selling pressure in the previous session, with the IT index having fallen 1.75 per cent on Thursday. “The continuing weakness in IT stocks and sustaining strength in pharmaceuticals stocks reflects the market perception of the prospects of these sectors in the present challenging environment,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.
