Indian equity indices saw a robust start on Friday, driven by favorable global cues.
By 9:43 AM, the Sensex had risen by 329 points, or 0.41%, reaching 80,373, while the Nifty gained 118 points, or 0.48%, to stand at 24,524.
The broader market also showed positive momentum, with the Nifty Midcap 100 index climbing 711 points, or 1.25%, to 57,453.
Similarly, the Nifty Smallcap 100 index rose by 74 points, or 0.40%, to 18,747.
Among sectoral indices, notable gains were observed in the Metal, IT, PSU Bank, Pharma, Realty, Energy, and Infrastructure sectors.
Conversely, the FMCG and private banking indices faced some pressure.
In the Sensex pack, notable performers included Bharti Airtel, JSW Steel, Wipro, Tata Steel, Infosys, HCL Technologies, Bajaj Finance, TCS, Asian Paints, and Mahindra & Mahindra.
On the other hand, Tech Mahindra, HDFC Bank, Nestlé, and Hindustan Unilever emerged as laggards.
Most Asian markets exhibited a positive trend, with Tokyo, Hong Kong, Bangkok, Seoul, and Jakarta trading in the green. However, the Shanghai market was an exception, trading in the red. Crude oil prices were relatively stable, with Brent crude priced at $82.54 per barrel and WTI crude at $78.43 per barrel.
Market experts have highlighted the resilience of the Indian equity market, noting, “The ongoing bull market in India has shown a remarkable ability to overcome various concerns, including elections, the Budget, and fluctuations in the U.S. market. The buy-on-dips strategy, which has been effective throughout this rally, continues to perform well.”
Foreign Institutional Investors (FIIs) extended their selling spree, offloading equities worth Rs 2,605 crore on 25 July.
In contrast, Domestic Institutional Investors (DIIs) maintained a buying stance, purchasing equities worth Rs 2,431 crore on the same day.
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