Indian stocks started off positively on Friday, bolstered by softer U.S. labour market data which only further anticipates imminent rate cuts by the Federal Reserve. At the onset of trading, the benchmark S&P BSE Sensex had risen 250 points or recovered 0.4%, settling at 72,655. Concurrently, the broader NSE Nifty index gained 68 points or 0.3%, to be at 22,025. Following the approval of a 1:1 bonus issue by its board, BPCL's stocks soared 3.2%.
Asian Paints, after announcing moderate Q4 net profit growth, saw its shares increase by 1.2%. Jupiter Wagons, on the back of strong Q4 results, saw a 3.5% rise in their value. Similarly, companies such as Cipla, Eicher Motors and Tata Motors all displayed modest growth ahead of their pending earnings results.
Separately, Indian Overseas Bank managed a slight increase following reports of its highest-ever quarterly profit. Lastly, PNB shares gained around half a percent after revealing a substantial 160% surge in their quarterly profit, when compared to last year.
