Markets open higher; ITC, SBI stocks gain

Infosys, SBI, ITC, and BPCL were among the top gainers on the NSE, while losers include Infratel, Tech Mahindra, and Airtel.

Domestic equity markets opened higher on Friday, with the Sensex is trading 105 points higher at 39,125. The broader NSE Nifty benchmark was up 13 points up at 11,596.

Investors wait for key large-cap companies to report their financial results later in the day, with State Bank of India (SBI), Tata Motors, and Marico.

Among the 50 components in the Nifty index, 22 shares were trading in the green, while 28 were in the red.

The Indian rupee opened at 71.04/$ vs its previous close of 71.02/$.

The Nifty PSU Bank index gained 1% as buying was witnessed in SBI, Indian Bank, Canara Bank, and PNB.

Infosys, SBI, ITC, and BPCL were among the top gainers on the NSE, while losers include Bharti Infratel, Tech Mahindra, and Bharti Airtel.

Shares of ITC traded higher after the FMCG major reported a 36% YoY jump in PAT for the September quarter.

Tata Motors, SBI, Marico, HDFC Asset Management Company, Reliance Capital, Strides Pharma Science, Supreme Industries, Arvind, Infibeam Avenues, Jubilant Life Sciences will declare their results today.

Meanwhile, Asian markets inched up as economic growth concerns somewhat eased.

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