The BSE Sensex and Nifty opened higher on Friday amid broad based gains across sectors. The Sensex gained nearly 200 points to 27,701.86, while the Nifty rose over 50 points to regain the 8300 mark.
Global cues were missing as most of the Asian markets are closed today due to public holiday. US and Europe markets were closed on Thursday for New Year.
Both foreign and domestic investors turned net buyers of Indian equities on Thursday but with low intensity, which underpinned sentiments. Foreign investors bought shares worth Rs 18 crore, while domestic investors were net buyers to the tune of Rs 20 crore only.
Buying was seen across the sectors but metals, pharma and power stocks were significant gainers today rising between 0.5 to 0.8 per cent.
JSPL was the top gainer in Nifty, up around 1.4 per cent, extending its rally to the third straight day. Bhel, Cipla, ONGC, HDFC were the other top gainers in Nifty.
BPCL was the top loser in Nifty down 0.36 per cent. Yesterday oil marketing companies have cut prices of non-subsidised LPG and aviation fuel to pass on the benefit of falling international crude prices to consumers. However prices of petrol and diesel were unchanged as government hiked excise duty on petrol and diesel, nullifying the effect of falling crude prices.
As of 9.29 a.m. Sensex was up 174 points at 27,682.45, while the Nifty was up 54 points at 8,338.