Indian Markets Open Higher As Metal & Realty Stocks Lead Gains

Domestic equity markets opened higher on Friday, tracking positive global cues and buying across metal, real estate and cement stocks.

The Sensex opened at 74,575.24, gaining 260 points or 0.35 per cent, while the Nifty rose 64 points or 0.28 per cent to 23,334.70.

Nifty Metal led sectoral gains, rising 0.76 per cent in early trade, followed by Nifty Realty, which advanced 0.74 per cent. Nifty Cement gained 0.55 per cent, while Media stocks rose 0.47 per cent. Healthcare, auto, banking, pharma, energy and FMCG indices also traded higher.

However, Nifty IT declined more than 1 per cent, while Nifty MidSmall IT & Telecom fell 0.40 per cent. Tata Motors Passenger Vehicles, TCS, Infosys, Tech Mahindra and HCL Technologies emerged among the top Nifty losers, falling by up to 3 per cent.

Analysts attributed the positive global sentiment to resilience in US markets despite elevated bond yields and expectations of strong corporate earnings. They also said strong domestic economic conditions continued to support market sentiment.

On the domestic front, analysts noted that strong activity in the primary market has shifted investor attention towards IPOs and listing gains, affecting some large-cap stocks in the secondary market.

Analysts said the market remained weak, with the RSI at 29.95 indicating oversold conditions. Nifty support stood at 23,000–23,150 and resistance at 23,350–23,450.

FIIs sold ₹3,208 crore, while DIIs bought ₹3,617 crore. Global markets gained, while Brent crude fell 1 per cent to $103.61 a barrel.

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