Research Icon - Markets open higher; BPCL, Vodafone Idea stock gains

Domestic equity market opened higher on Friday taking cues from largely positive Asian markets.

The Sensex is up 233 points at 41,681 and the Nifty up 52 points at 12,227.  About 946 shares have advanced, 525 shares declined, and 592 shares are unchanged.

Barring realty index, all the indices were trading higher on the NSE index.

Yes Bank, Tata Motors, Asian Paints and BPCL were among top gainers, while Dr Reddyy’s,  Eicher and GAIL slipped in the morning session.

Shares of Vodafone Idea zoomed 8.5% as the company’s losses during the October-December quarter stood at Rs6,453cr.

The Indian rupee opened higher at 71.29 a dollar vs. the previous close of 71.33 a dollar.

ONGC, Embassy Office Parks REIT, Fortis Healthcare, MMTC, DCM, Delta Leasing & Finance and Eveready Industries India are among the companies that are scheduled to release their December quarter earnings later in the day today.

Meanwhile, the International Monetary Fund (IMF) said that the recent Indian budget's "accommodative fiscal stance" is appropriate in the weaker economic scenario, but the government needs to focus on more ambitious structural and financial sector reform measures in the medium term because of the growing debt levels.

Further, gold prices held steady near a one-week high as a mounting coronavirus death toll supported safe-haven buying, while a stronger dollar kept a lid on gains.

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