Sensex, Nifty Open Marginally Higher To End Losing Streak
Indian benchmark indices opened slightly higher on Friday after breaking their recent losing streak in the previous session. However, gains remained limited as elevated crude oil prices and renewed pressure in global bond markets kept investors cautious. The Sensex opened 150 points higher while Nifty opened 50 points up. However both the indices shed most of the gains soon. At around 10:30 am,…
Indian stock indices opened marginally higher on Friday, signaling an end to a recent losing streak. However, gains were modest and quickly eroded, as investors remained cautious. The Sensex climbed 150 points, while the Nifty rose 50 points from their previous session's low. By 10:30 am, the Sensex had only gained 52 points, and the Nifty was up 13 points.
Real estate, private bank, and IT stocks led the market rally on Friday. Brent crude oil traded at $93.52 per barrel, while West Texas Intermediate crude was at $86.44 per barrel. Dr V K Vijayakumar, Geojit Investments Chief Investment Strategist, cautioned that the recovery could face resistance as Brent crude approaches $94 per barrel and US Treasury yields rise.
Despite the initial gains, large-cap stocks saw profit-taking that limited the market's upward momentum. Among Sensex constituents, Kotak Mahindra Bank led with a 1.52% increase. BEL rose 1.08%, while Tata Steel, SBI, HDFC Bank, and ICICI Bank also posted gains. However, IndiGo fell 1.17%, along with Titan and Hindustan Unilever.
Metals, banks, and real estate showed mixed sectoral performance, with Nifty Metal gaining 0.80% and Nifty Private Bank and Nifty Realty advancing 0.69% and 0.68%, respectively. PSU banks and financial services remained in positive territory. In contrast, Nifty IT declined 0.64%, and FMCG, Auto, Healthcare, and Pharma indices traded lower.
The broader market remained relatively resilient, with the Nifty Smallcap 100 rising 0.77%. The Nifty 500 gained 0.03%, while midcap indices faced pressure. The India VIX climbed 4.69% to 11.26, indicating increased market caution.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
