Indian stock markets opened flat on Friday but quickly moved higher, supported by positive global cues and easing geopolitical tensions in the Middle East. Optimism over a potential trade deal between the US and India further bolstered investor confidence.
At 9:20 a.m., the Sensex opened at 82,288.51, up 116.41 points, while the Nifty 50 rose 37.50 points to 25,219.30. Investors remained watchful amid mixed global signals, the ongoing US government shutdown, and the domestic earnings season.
“Although yesterday’s rally in the second half failed to breach the week’s high, it helped neutralize the bearish bias from the evening star candlestick pattern,” market experts said. “This encourages a move toward 25,460 in the coming days. For today, failure to sustain above 25,215 or a slip below 25,113 could keep the trend sideways, but a drop below 24,982 is not imminent.”
In the broader market, the Nifty Midcap 100 rose 0.18%, while the Nifty Smallcap 100 advanced 0.28%, signaling healthy participation from mid- and small-cap stocks.
Among sectoral indices, Nifty Metal was the laggard, down 1.4%, followed by Auto, Pharma, and Healthcare. Banking, Energy, FMCG, IT, Consumer Durables, Oil & Gas, and Realty sectors traded with gains.
Top gainers in the Sensex included Power Grid, State Bank of India, NTPC, Adani Ports, and Asian Paints, while Tata Steel, TCS, Bajaj Finance, M&M, and HCL Tech were in the red.
“The overall market environment is turning positive. Globally, the Gaza peace accord signals an end to conflict and a reduction in geopolitical risk,” analysts said. “Domestically, prospects of a US-India trade deal and India’s rebalancing of oil purchases are supporting markets.”
Foreign institutional investors (FIIs) were net buyers in the cash market over the past three sessions, further strengthening market sentiment, analysts added.
–IANS
