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It's a solid start for market as it surged to new highs in opening trades a day after March series F&O expiry. Markets surged tracking positive global cues and rising rupee. Asian stocks surged tracking positive data from the US. U.S. economy grew at 2.6%, faster than estimated earlier in the fourth quarter, showed data released recently
The 30-share Sensex opened 108 points higher at 22,326 levels breaching previous highs while 50-unit Nifty 6670 up 30 points in opening trades.
is likely to start on a flat to positive note, a day after investors rolled over positions from the near-term March series F&O expiry to April series. The Nifty Futures at the Singapore Exchange (SGX Nifty) are trading 18 points higher at 6713 levels, indicating a positive start on Friday.
A day earlier the rollover percentage for Nifty futures was lower than the three-month average, rollovers for overall market positions were in line with the average. About 56-57 per cent of Nifty futures positions were rolled over, whereas the overall market rollover was about 71 per cent, according to provisional data. The NSE Nifty closed at 6,641 on Thursday, up 0.6 per cent from its previous close. Analysts are sceptical about the Nifty crossing 6,700 levels.
Globally, China's Shanghai Composite was up 0.2 percent or 6 points at 2,052.18. Hong Kong's Hang Seng surged 1.2 percent or 261 points at 22,024.59. Japan's Nikkei was flat at 14,610.45. Singapore's Straits Times rose 0.51 percent or 16.23 points at 3,178.69. South Korea's Seoul Composite was up 0.15 percent or 3.01 points at 1,980.98. Taiwan's Taiwan Weighted added 0.33 percent or 28.65 points at 8,808.22.
Stocks in U.S. fell on Thursday, erasing most of the S&P 500's year-to-date gain, as banking and technology stocks led the selloff.
The benchmark S&P 500 fell almost 1 percent this week, turned nearly flat for the year.
The Dow Jones industrial average slipped 4.76 points or 0.03%, to end at 16,264.23 and the S&P 500 was down 3.52 points or 0.19, at 1,849.04. The Nasdaq Composite was down 22.346 points or 0.54 percent, to end at 4,151.232.
At the close, the S&P 500 was up just a fraction of a point for the year.
U.S. economy grew at 2.6%, faster than estimated earlier in the fourth quarter, showed data released recently, while new claims for jobless benefits dropped to a near four-month low last week. But contracts to buy previously owned homes fell in February to their lowest level since October 2011.
The United States and the European Union on Wednesday agreed to prepare possibly tougher economic sanctions in response to Russia's annexation of Ukraine's Crimea territory.
