Despite frail international signals from West Asian conflicts, India’s equity benchmarks opened in green on the week’s final trading day. Sensex surged 489.36 points or 0.64% to 77,121.01, while Nifty50 gained 0.44% to 23,880.55. Banking heavyweights propelled Bank Nifty up 0.66% to 55,182.25.
Minutes into trade around 9:38 AM, Sensex hovered at 77,129.47 (up 0.65%), and Nifty at 23,934.95 (up 0.67%). Midcaps and smallcaps stole the show, rising over 1% each, outpacing frontline indices.
Sector performance was mixed yet robust: Metals, autos, private banks, media, PSU banks, realty, and energy sectors jumped over 1%. Pharma ticked up modestly at 0.14%, contrasting IT’s over 1% slump.
Nifty 50 heavyweights like Shriram Finance, Asian Paints, Axis Bank, Eicher Motors, ICICI Bank, M&M, Bajaj Auto, Bajaj Finserv, and SBI drove gains. IT and pharma names such as Infosys, TCS, Sun Pharma, HCL Tech, and Tech Mahindra bucked the trend with declines.
Experts attribute the bounce to expectations of softening energy prices. ‘Recent market corrections pale against energy volatility, pointing to declining oil over 3-6 months,’ said a veteran analyst. This scenario may pressure growth and lift inflation mildly, but bodes well for stocks heading into earnings.
Technically, 23,660 acts as Nifty’s crucial support. Holding above supports a bull run to 24,250; breach could see correction to 23,200 amid gap fills. With US-Iran truce doubts lingering, today’s open underscores domestic market fortitude.
