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Indian equity markets opened higher on Friday (Img: X)
New Delhi: Indian equity markets opened higher on Friday, extending the previous session’s gains despite mixed global signals and rising concerns over crude oil prices and US bond yields. The benchmark indices started the day in positive territory, while investors remained cautious amid global market volatility.
The BSE Sensex gained 163.35 points or 0.21% to open at 77,701.07. Meanwhile, the Nifty 50 rose 52.2 points to begin trading at 24,284.05. In the previous trading session, the Sensex closed at 77,537.72, while the Nifty ended at 24,231.85.
Broader market indices also witnessed buying interest in early trade. The BSE Midcap Select Index gained 55.96 points, while the BSE Smallcap Select Index climbed 56.13 points or 0.61% to trade at 9,208.82.
Among Sensex-listed companies, Eternal, Sun Pharma, Titan, Kotak Bank and BEL emerged as major gainers during early trading.
Eternal topped the gainers’ list, rising around 0.72% in initial trade.
On the other hand, Infosys, TCS, Hindustan Unilever, Reliance Industries and UltraTech Cement were among the stocks under pressure. Infosys declined more than 0.52% during early market hours.
The overall market sentiment remained positive in early trading. On the NSE, around 1,563 stocks advanced, while 728 stocks declined. About 186 stocks remained unchanged.
Analysts said the market outlook remains cautiously positive, but global factors including US market weakness, rising Treasury yields, crude oil prices and geopolitical tensions may limit further gains.
Asian markets traded mixed on Friday after major US stock indices witnessed sharp declines due to renewed pressure in the bond market.
Japan’s Nikkei 225 slipped 266.79 points or 0.40% to 65,950. Meanwhile, Hong Kong’s Hang Seng gained 204.51 points, while South Korea’s Kospi rose 59.15 points.
Foreign Institutional Investors (FIIs) remained sellers on August 20, selling equities worth Rs 583.36 crore. Domestic Institutional Investors (DIIs), however, continued their buying trend and purchased shares worth Rs 3,537.71 crore. Investors are now closely tracking global cues, crude oil movement and geopolitical developments for the next market direction.
Disclaimer: This article is for informational purposes only and does not constitute investment advice, financial advice, or a recommendation to buy or sell any stock, security, or financial product.
