Stock Market Today: Sensex, Nifty Open Higher But Slip In Early Trade

Domestic equity benchmark indices Sensex and Nifty traded lower in early deals on Friday, tracking mixed global cues, while gains in information technology (IT) stocks offered some support to the market.

The Sensex fell 221.89 points, or 0.29%, to 74,093, hitting an intraday low. The Nifty declined 55.19 points, or 0.24%, to an intraday low of 22,942.

Both indices opened higher. The Sensex began trading at 74,341.08, up 25.47 points or 0.03% from its previous close of 74,315.61. The Nifty opened at 23,065.10, gaining 67.75 points or 0.29% against its previous close of 22,997.35.

Among sectoral indices, Nifty IT, Nifty Media, Nifty PSU Bank and Nifty Metal rose by up to 1.59%.

In contrast, Nifty Oil & Gas, Nifty MidSmall IT & Telecom and Nifty FMCG fell by up to 0.86%.

Realty and auto stocks traded lower, while pharma, cement, healthcare and private banking shares recorded marginal declines.

Market experts said the Nifty 50 gained 668 points in three sessions, outperforming global peers. They cited weaker AI trade enthusiasm, possible LTCG tax changes and strong Q2 earnings.

Better-than-expected IT results have lifted the sector index by around 9%.

Experts expect telecom, banking, auto and metals earnings to support markets further.

A lower US 10-year bond yield of 5.07% and a stronger rupee could ease FII selling. Outflows may continue while yields stay above 5% and Brent crude exceeds $100 a barrel.

Analysts expect the Nifty to consolidate below 23,070, with a 23,200–23,600 outlook and support at 22,780.

Asian markets rose, following Wall Street gains. The S&P 500 gained 0.33%, while the Nasdaq edged up 0.08%.

Also Read: Stock Market Closing: Sensex Surges 1,534 Points, Nifty Gains 375