Stock Market Today: Sensex, Nifty Open Higher For Second Session Despite Rising Crude

Indian equity benchmarks opened higher for the second consecutive session on Friday, extending their recovery from recent losses despite elevated crude oil prices.

Gains in realty, metal and pharmaceutical stocks supported the early market trend.

The Sensex opened 163.35 points, or 0.21 per cent, higher at 77,701.07, while the Nifty gained 52.20 points, or 0.22 per cent, to open at 24,284.05.

Nifty Realty led sectoral gains in early trade, rising 0.7 per cent. Nifty Metal gained 0.48 per cent, while Nifty Pharma rose 0.32 per cent. Nifty MidSmall Healthcare and Nifty REITS & Realty advanced 0.32 per cent and 0.28 per cent, respectively.

Nifty IT recorded the biggest decline, falling 0.6 per cent. MidSmall IT & Telecom dropped 0.17 per cent, while Nifty Auto slipped 0.19 per cent.

Analysts, however, cautioned that the market’s recovery could face pressure from rising crude prices and higher US bond yields.

With Brent crude approaching $94 per barrel, renewed pressure from US yields could weigh on large-cap stocks and lead to profit booking.

Despite these concerns, analysts expect the broader market to retain momentum, supported by institutional buying and improving fundamentals.

NBFCs remain strong, while digital platforms, pharmaceutical and CDMO stocks continue to attract buying interest despite elevated valuations.

Technically, analysts said the Nifty formed a bullish Doji after seven consecutive sessions of decline, signalling easing selling pressure.

The index could move towards 24,317-24,380 and then 24,400-24,545 if it sustains above the 24,060-24,000 support zone.

Asian markets traded lower after Wall Street weakened as longer-term US Treasury yields rose.

Brent crude traded at $93.96 per barrel after US Treasury Secretary Scott Bessent indicated that Washington could impose stringent sanctions on Iran, raising concerns over potential supply disruptions.

Also Read: UPI Charges Explained: Centre Says Person-To-Person Payments Will Remain Free