Indian shares opened higher on Friday, with the benchmarks scaling new all-time highs on improved sentiment following robust economic data from the United States, which eased fears of a slowdown. The Nifty index rose as much as 0.59% to a record high of 19,083.15. The S&P BSE Sensex also rose 0.63% to an all-time high of 64,321.09, as of 9:24am Indian Standard Time. The midcaps and smallcaps hovered around fresh record and 52-week highs, respectively. All the 13 major sectoral indexes logged gains, with high-weightage financials rising 0.74%.
India’s blue-chip Nifty 50 and Sensex indexes rallied to record highs on Wednesday, lifted by the gains in some Adani group stocks and financials. The Nifty 50 has risen over 9% so far this quarter and is on course to log its best quarter since September 2021.
Wall Street equities closed higher overnight as sentiment improved on strong economic data. An upward revision in first-quarter Gross Domestic Product (GDP), surprise fall in jobless claims, and positive results from the United States Federal Reserve’s stress test helped eased recession fears.