Sensex and Nifty Gain Momentum Amid Global Market Rallies
"Sensex and Nifty surged in early trade, driven by global market rallies. Key gainers include Power Grid and Tata Steel, while FIIs offloaded Rs 5,462 crore. Read more on market trends."
Mumbai: Indian stock market benchmarks, Sensex and Nifty, started Friday’s trading session on a positive note, driven by a robust rally in global markets.
The 30-share BSE Sensex climbed 282.35 points to reach 76,802.73 in early trade, while the NSE Nifty advanced by 86.7 points, hitting 23,292.05.
Key Performers in the Market
Among the 30-share blue-chip pack, several stocks emerged as significant gainers:
- Power Grid
- UltraTech Cement
- NTPC
- Tata Steel
- Asian Paints
- Axis Bank
Conversely, a few stocks underperformed during the session:
- Tata Motors
- Sun Pharma
- Zomato
- Kotak Mahindra Bank
Global Market Trends Supporting Indian Indices
Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, traded in the green, adding momentum to the Indian market’s positive start. Additionally, US markets closed higher on Thursday, further boosting investor sentiment worldwide.
US President Donald Trump, addressing the World Economic Forum, emphasized his pro-business stance. He encouraged global businesses to manufacture in the US with the promise of low taxes while warning of tariffs for non-compliance.
Trump also touched upon pressing global issues, such as oil prices and inflation, asserting that reducing oil prices could potentially end the Russia-Ukraine war.
Expert Insights on Market Performance
V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented on the ongoing market trends, stating, “The strength of the US market, with S&P 500 setting yet another record high and the 10-year US bond yield remaining strong around 4.65%, will continue to weigh on the Indian market.”
Also Read | Indian Stock Market Treads with Caution Amid Mixed Q3 Earnings
Foreign Institutional Investor Activity
Foreign Institutional Investors (FIIs) sold equities worth Rs 5,462.52 crore on Thursday, as per exchange data. Despite this, the strong performance of global markets has kept the Indian indices buoyant.
Crude Oil and Inflation Trends
The global oil benchmark Brent crude saw a slight dip of 0.19%, trading at USD 78.14 per barrel. President Trump’s focus on lowering oil prices to tackle inflation and his promise to eliminate 10 old regulations for every new regulation added a positive tone to global markets.
Recap of Previous Session
On Thursday, the BSE Sensex rose by 115.39 points (0.15%) to settle at 76,520.38. Meanwhile, the NSE Nifty climbed 50 points (0.22%) to close at 23,205.35, reflecting resilience amid fluctuating global conditions.
