Indian Stock Market Opens Higher, Sensex Crosses 80,000 Mark

Mumbai: The Indian equity benchmark indices opened on a strong note on Friday, driven by positive global cues. Early trade saw buying interest in IT, pharma, and auto sectors.

Market Performance at Opening

As of 9:27 am:

• Sensex was trading 265.3 points or 0.33% up at 80,066.81
• Nifty rose 89.85 points or 0.37% to 24,336.55

Sectoral Indices Movement

• Nifty Bank was down 222.85 points or 0.40% at 54,978.55
• Nifty Midcap 100 index edged up 10.95 points or 0.02% to 54,980.80
• Nifty Smallcap 100 index dropped 60.20 points or 0.35% to 16,903.30

Technical Outlook

According to market experts:

• Nifty may find support at 24,200, followed by 24,100 and 24,000
• On the upside, resistance levels are likely around 24,500, then 24,600 and 24,700

Bank Nifty outlook:

• May find support at 55,000, then 54,700 and 54,500
• On the upside, key resistances are seen at 55,500, followed by 55,800 and 56,200

“The charts of Bank Nifty indicate potential support and resistance levels that traders should watch closely,” said Hardik Matalia, Derivative Analyst at Choice Broking.

Top Gainers and Losers

Top gainers in the Sensex pack:

• TCS
• Tata Steel
• Maruti Suzuki
• Eternal
• ICICI Bank
• SBI
• HDFC Bank
• Infosys
• M&M
• Tata Motors

Top losers:

• Axis Bank
• Tech Mahindra
• Nestle India
• IndusInd Bank

Also Read: Indian Stock Market Opens Lower on Mixed Global Cues

Global Market Influence

In the previous session:

• Dow Jones added 1.23%, closing at 40,093.40
• S&P 500 gained 2.03%, closing at 5,484.77
• Nasdaq surged 2.74%, ending at 17,166.04

Asian Markets Overview

Markets in Jakarta, Bangkok, Seoul, Hong Kong, China, and Japan were all trading in green during early hours.

FII and DII Activity

• Foreign Institutional Investors (FIIs) bought equities worth ₹8,250.53 crore on April 24
• Domestic Institutional Investors (DIIs) sold equities worth ₹534.54 crore on the same day