Indian benchmark indices rally due to mixed global cues

Domestic equity indices are trading in positive territory in Friday’s afternoon session as investors are cautious owing to mixed global cues. According to official data issued on Thursday, the Indian economy increased by 7.8% in the June quarter, primarily due to double-digit growth in the services sector, and it maintained its status as the world’s fastest-growing major economy.

On the sectoral front, Nifty Pharma and Healthcare indices are trading under pressure. Nifty Auto stocks are trading 1% higher. Metal index is shining with a 2% uptick. All other major sectoral indices are extending gains in today’s rally.

At around 1.00 PM, BSE Sensex is trading 0.62% higher at 65,231. NSE Nifty is up by 141 points at 19,395.

Jio Financial (+4.65%) is trading as the top gainer on the nifty index with a 5% gain. NTPC (+4.13%) and ONGC (+4.05%) are trading with an uptick of 4%. Tata Steel (+2.97%) and SBI Life (+2.39%) are trading 3% higher.

Cipla (-0.67%) is trading as the top laggard, joined by Divis Lab (-0.66%). Dr Reddy’s (-0.55%), Nestle India (-0.23%), and HDFC Bank (-0.23%) also fell.

A total of 41 stocks advanced, and 10 declined on the nifty index today.