Top stocks to watch today: The Indian stock market is expected to open higher on Friday, October 16, following positive signals from GIFT Nifty. The index was trading around 23,106, up nearly 118 points, or 0.51%, from the previous close of Nifty futures, indicating a positive start for domestic benchmark indices.
Indian equity benchmarks rallied sharply on Thursday, with the Sensex surging over 1,500 points to close at a three-week high. The rally was supported by strong buying in banking and IT stocks, along with Reliance Industries, while a decline in crude oil prices further boosted investor sentiment.
The 30-share BSE Sensex jumped 1,533.72 points, or 2.11%, to settle at 74,315.61, near its intraday peak. During the session, the index advanced 1,548.4 points, or 2.12%, to hit 74,330.29. Meanwhile, the NSE Nifty 50 climbed 374.65 points, or 1.66%, to end at 22,997.35, marking its highest closing level since September 25.
Meanwhile, several stocks are expected to be in focus on Friday as companies announce key corporate developments. Updates related to order wins, business performance, expansion plans and other company-specific developments could drive movements in individual stocks during the trading session.
Urban Company, Reliance Industries, Wipro, Tech Mahindra, Jio Financial Services, Yes Bank are among the shares that will remain in focus on Friday.