Sensex And Nifty Surge In Early Trade On Strong Buying In IT, Metal Shares

Indian stock markets witnessed a strong start on Friday, with the benchmark indices gaining almost one per cent in early trade despite mixed signals from global markets.

Buying interest across information technology, metal, pharmaceutical, and chemical stocks lifted overall market sentiment.

The BSE Sensex rose by 650 points to open at 78,152.34, while the Nifty 50 advanced nearly 200 points to 24,375.65, reflecting healthy investor confidence.

The information technology sector emerged as the biggest contributor to the rally, with the Nifty IT index climbing close to 2 per cent.

The Nifty Metal index also posted solid gains of 1.66 per cent. Other sectoral indices, including MidSmall IT & Telecom, Chemicals and Pharma, also traded firmly in positive territory.

However, banking stocks under the public sector segment underperformed, with the Nifty PSU Bank index slipping 0.87 per cent.

Within the Nifty 50 pack, Tata Motors Passenger Vehicles (TMPV), NTPC, SBI, and Axis Bank featured among the weakest performers during early trade.

Broader Market Maintains Positive Momentum

The upbeat mood extended beyond frontline stocks, as the Nifty Smallcap 50 and Nifty Smallcap 100 gained 0.48 per cent and 0.46 per cent respectively.

The Nifty 100 added 0.46 per cent, while the Nifty 500 moved up by 0.41 per cent.

Meanwhile, market volatility eased further, with the India VIX falling 1.62 per cent to 12.09.

Market experts believe the near-term outlook remains favourable as long as the Nifty stays above the 24,000 mark.

They identified 24,300 and 24,450 as immediate resistance levels, while 24,050 continues to serve as an important support. A break below this level could trigger a decline towards 23,900.

Analysts also advised investors to monitor developments in global technology markets, warning that continued weakness in semiconductor stocks could encourage profit-taking in Indian IT shares.

Meanwhile, Brent crude traded at $72.36 per barrel, Asian markets remained largely positive, and Wall Street closed lower overnight after selling pressure in technology stocks.

Also Read: Markets Rally As Sensex Surges 579 Points, Nifty Climbs Above 24,175 On Oil Price Relief