India’s benchmark indexes opened higher on Friday, underpinned by Larsen & Toubro, which saw new orders reach a record high, while expectations of favourable triggers from the upcoming union budget also aided risk sentiment.
The Nifty 50 was up 0.28% at 23,314.75 points, as of 9:25 a.m. IST, while the BSE Sensex added 0.2% to 76,928.33.
Shares of Larsen & Toubro rose 4.4% after the infrastructure giant said its orders reached an all-time high, driven by strong performance in its international business.
However, the company reported a profit miss for the December quarter.
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IT rose 0.7%, while high-weight financials shed 0.3% after three sessions of gains.
Both benchmark indexes – the Nifty 50 and the BSE Sensex – gained 1.8% each in the previous three sessions, halting a slide that saw them drop to seven-month lows.
Markets await the outcome of the annual budget, scheduled for Feb. 1, for key directional triggers. India’s equity markets will remain open on that day.
Source: Brecorder
