Stock Market Today: Nifty Tops 24,700, Sensex Gains Over 280 Points
The Indian stock market opened on a positive note on Friday, with benchmark indices moving higher amid mixed global cues. Early trade saw strong buying interest in FMCG, IT, and auto stocks, giving a boost to investor sentiment.
Mumbai: The Indian stock market opened on a positive note on Friday, with benchmark indices moving higher amid mixed global cues. Early trade saw strong buying interest in FMCG, IT, and auto stocks, giving a boost to investor sentiment.
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Sensex and Nifty Surge in Early Trade
At 9:29 AM, the BSE Sensex was up 281.75 points or 0.35%, trading at 81,233.74, while the NSE Nifty gained 109.75 points or 0.45% to reach 24,719.45.
The Nifty Bank index also moved up slightly by 69.85 points or 0.13% to 55,011.15. Meanwhile, broader market indices showed strength, with the Nifty Midcap 100 rising by 258.10 points (0.46%) to 56,582.95, and the Nifty Smallcap 100 climbing 58.30 points (0.33%) to 17,561.40.
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Top Gainers and Losers in Early Session
In the Sensex pack, the top gainers included:
- ITC
- Adani Ports
- Infosys
- PowerGrid
- Tech Mahindra
- Tata Steel
- SBI
- HCL Tech
- UltraTech Cement
- Tata Motors
- Eternal
On the losing side were:
- Sun Pharma
- M&M
- NTPC
- Bajaj Finance
- Bharti Airtel
- Maruti Suzuki
- ICICI Bank
Strong Macros Supporting Market Sentiment
Analysts attributed the positive opening to India’s strong macroeconomic fundamentals, including resilient GDP growth, declining inflation, and a favorable interest rate environment.
“Even when the market turns weak, domestic demand-driven segments like financials, telecom, and aviation remain strong. This is evident in the continued strength of large-cap stocks like ICICI Bank, Bharti Airtel, and InterGlobe Aviation,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Global Market Overview
Asian markets opened in green with China, Hong Kong, Bangkok, Seoul, Jakarta, and Japan trading higher. Meanwhile, Wall Street ended Thursday’s session mixed:
- Dow Jones: 41,859.09 (-1.35 points / 0.00%)
- S&P 500: 5,842.01 (-2.60 points / 0.04%)
- Nasdaq: 18,925.74 (+53.09 points / 0.28%)
FIIs and DIIs Trading Activity
On May 22, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth ₹5,045.36 crore, while Domestic Institutional Investors (DIIs) were net buyers with purchases of ₹3,715.00 crore.
