Indian equity markets rose in morning session on Friday, following positive global market cues amid a fall in oil prices and reports that US President Donald Trump had cancelled plans to strike Iran, citing progress in talks.
Sensex surged as much as 1.35 per cent or 1,000 points to touch an intraday high of 74,834 in early trade. Similarly, Nifty rose 1.26 per cent or about 300 points to 23,455.
Sectorally, all indices traded in green. Nifty Realty emerged as the top performer, rising 2.51 per cent, followed by Nifty Auto, which gained 1.79 per cent. Nifty Private Bank and Nifty PSU Bank indices advanced 1.29 per cent and 1.45 per cent, respectively. Other strong gainers included media, chemicals, consumer durables, oil & gas and cement.
Nifty Metals also traded higher, gaining 0.92 per cent, while Nifty FMCG was up 0.71 per cent and pharma and broader healthcare indices gained up to 0.86 per cent.
According to analysts, the near-term setup remains constructive, supported by strong global cues, sustained domestic institutional buying, and improving sectoral breadth. However, they cautioned that the sustainability of the rally will depend on whether indices can hold above key resistance zones in the coming sessions.
Meanwhile, Asian markets extended gains, with the Nikkei rising more than 3 per cent, the Hang Seng surging 2 per cent, and the KOSPI advancing more than 8 per cent.
Wall Street closed higher overnight, with the Nasdaq rising 2.54 per cent and the S&P 500 gaining 1.75 per cent.
-IANS
