Indian equity benchmark indices opened on a positive note on Friday, buoyed by favourable global cues, sustained foreign institutional investor (FII) inflows and gains in financial, pharmaceutical and automobile stocks.
The Sensex opened 70.51 points, or 0.09 per cent, higher at 77,998.66, while the Nifty gained 44.30 points, or 0.18 per cent, to begin the session at 24,361.45.
Among sectoral indices, Nifty Financial Services Ex-Bank emerged as the top performer with gains of nearly 1 per cent.
Nifty Pharma, Auto, Healthcare, Metal and PSU Bank indices also traded up by as much as 0.8 per cent.
In contrast, IT stocks remained under pressure, with the Nifty IT index falling around 3 per cent.
Nifty MidSmall IT & Telecom also declined, while FMCG stocks traded marginally lower.
Market analysts said heightened volatility continues to dominate global equity markets, particularly in the US and South Korea, where technology stocks have witnessed sharp swings following quarterly earnings and changing investor expectations. They noted that sharp movements in heavyweight technology stocks have increased caution among institutional investors.
Analysts said India remains a relatively stable market with limited downside risks, particularly in large-cap stocks.
Supporting sentiment, FIIs bought equities worth ₹7,360 crore over the past three sessions, while easing crude oil prices added to optimism.
Most Asian markets also traded higher, led by gains in Japan’s Nikkei and South Korea’s Kospi.
Wall Street also ended the previous session on a strong note, with the S&P 500 and Nasdaq posting robust gains, providing further support to global investor sentiment.
Also Read: Stock Market Today: Sensex Rises 274 Points, Nifty Ends Above 24,300
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