The Bombay Stock Exchange (BSE) benchmark Sensex initially declined by 252.8 points to 76,095.26 in early trade, while the National Stock Exchange (NSE) Nifty slipped 57.85 points to 23,132.80. However, both indices staged a swift recovery, reversing early losses to trade in positive territory
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Equity benchmark indices Sensex and Nifty opened lower on Friday but quickly regained lost ground, buoyed by fresh foreign institutional investor (FII) inflows that uplifted market sentiment, as per PTI.
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The Bombay Stock Exchange (BSE) benchmark Sensex initially declined by 252.8 points to 76,095.26 in early trade, while the broader National Stock Exchange (NSE) Nifty slipped 57.85 points to 23,132.80. However, both indices staged a swift recovery, reversing early losses to trade in positive territory.
According to PTI, the Sensex rebounded, gaining 205.09 points to reach 76,550.97, while the Nifty advanced by 70.05 points to trade at 23,262.55.
Among the Sensex constituents, Bajaj Finance, Nestlé, Kotak Mahindra Bank, NTPC, Maruti, Power Grid, Adani Ports, Tata Motors, Reliance Industries, and Bajaj Finserv emerged as the top gainers. Meanwhile, Infosys, Titan, HCL Technologies, Tata Consultancy Services, HDFC Bank, IndusInd Bank, Tech Mahindra, Asian Paints, and Zomato faced losses.
Asian markets presented a mixed picture, with Seoul and Tokyo trading in positive territory, whereas Shanghai and Hong Kong witnessed declines. In the United States, Wall Street closed slightly lower on Thursday.
According to PTI reports, foreign institutional investors made net equity purchases worth Rs 3,239.14 crore on Thursday, reflecting renewed buying interest.
Stock market today: Global crude oil prices also move higher
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that the ongoing rally in Indian equities this week, which saw the Nifty surge by 3.5 per cent, came amid escalating trade tensions. "The primary driver of the rally is the strong buying activity by FIIs in the cash market over the past two days," Vijayakumar stated, as per PTI.
Global crude oil prices also moved higher, with the Brent benchmark rising by 0.43 per cent to reach USD 72.31 per barrel.
On Thursday, the BSE Sensex had recorded an impressive gain of 899.01 points, or 1.19 per cent, closing at 76,348.06, reclaiming the 76,000 level. The Nifty surged 283.05 points, or 1.24 per cent, settling at 23,190.65, marking a strong rally and surpassing the key 23,000 level.
With sustained foreign fund inflows and strong market momentum, investors remain cautiously optimistic about the near-term outlook, PTI reports.
(With inputs from PTI)
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