Equity indices open marginally high

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India’s key equity indices — Sensex and Nifty — traded marginally higher during the early trade on Friday.

At 9.44 a.m., Sensex was 0.1 per cent or 69 points up at 58,638 points, whereas Nifty 0.2 per cent or 35 points up at 17,500 points.

“On the positive side, the negative real returns from fixed income are prompting the increasing tribe of retail investors to pour more money into Aequity. This strong new trend which is very conspicuous in India has the potential to keep the markets resilient even in the midst of the uncertainty caused by the Ukraine war,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

For FY23, the prospects for financials, IT, telecom, capital goods and pharma look good, while FMCG, cement and automobiles are likely to face margin pressure, Vijayakumar said.

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