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Sensex and Nifty opened higher as positive global cues and easing crude oil prices (Img: Pinterest)
New Delhi: The Indian stock market started Friday’s trading session on a positive note, with benchmark indices Sensex and Nifty witnessing marginal gains amid supportive global cues. Investors remained focused on international developments, crude oil prices and stock-specific movements.
The Nifty 50 opened above the 24,100 mark, gaining more than 25 points to start the session at 24,122.60. Meanwhile, the BSE Sensex climbed over 150 points and opened at 77,128.05.
Market experts said that positive trends in global equity markets, softer crude oil prices and expectations of short covering could provide support to domestic markets.
G. Chokkalingam, Head of Research at Equinomics Research, said the domestic market could remain stable or witness marginal gains due to favourable global signals.
He highlighted that the recent correction in benchmark indices could encourage buying interest, especially in small and mid-cap stocks. According to him, stock-specific action is likely to remain strong in the near term.
The previous trading session saw benchmark indices lose their early gains and close lower.
The Nifty declined 116.90 points to close at 24,090.85, while the Sensex dropped 539.35 points and settled at 76,933.59.
The decline came amid cautious investor sentiment and concerns over global market movements.
Crude oil prices remained a key factor influencing market sentiment due to ongoing geopolitical tensions involving the US and Iran.
Experts believe that stability in energy markets could provide relief to investors, as India remains sensitive to global crude price movements due to its high import dependence.
Global markets are also being closely monitored as investors assess economic data, central bank policies and geopolitical developments.
The Indian rupee also started the day on a positive note, opening at 95.51 against the US dollar.
Analysts said currency movement, foreign fund flows and global risk sentiment will remain important factors for Indian equities in the coming sessions.
Market participants will track:
With global signals turning supportive, Dalal Street is expected to remain focused on whether the current recovery momentum can sustain through the trading session.
(This article is for informational purposes only and not financial advice. Stock market investments carry risks. Investors should conduct their own research and consult financial experts before making investment decisions.)
