Stock Market Today: Sensex Gains Over 750 Points, Nifty Above 16,000

Indian indices witnessed a positive start on Friday amid mixed global cues. The Sensex opened 759 points higher at 53,551 while the Nifty 50 gained 238.55 points at 16,047 in early trade.

All the stocks in the 30-share index opened in green with Tata Steel, Axis Bank, IndusInd Bank, Bharti Airtel, and Tech Mahindra gaining up to 3.5 per cent.

The broader BSE MidCap and SmallCap also started in green, gaining up to 1.84 per cent.

All the sectoral indices were also in positive territory with Nifty Metal, Bank, Auto, Financials, FMCG, and IT gaining up to 3.6 per cent.

Earlier, trends on SGX Nifty indicated a gap-up opening for the broader index in India, with a gain of 212.50 points or 1.35 per cent. The Nifty futures were trading around 15,997.50 level on the Singaporean Exchange at 7:35 IST.

Meanwhile, Asian stocks opened higher on Friday as MSCI's index of Asia-Pacific shares outside Japan was up by 1.32 per cent. Japan's Nikkei gained 1.01 per cent. Australia's ASX 200 climbed 1.23 per cent. South Korea's Kospi jumped 1.52%. China's Shanghai added 0.98%while Hong Kong's Hang Seng rallied 2.31%.

US Stocks settled lower, with Cisco Systems slumping after giving a dismal outlook, while investors fretted about inflation and rising interest rates. Dow Jones dropped 0.75% to 31,253.13. S&P500 declined 0.58% to 3,900.79. Nasdaq fell 0.26% to 11,388.50.