Sensex Gains Nearly 300 Points on Realty, Utilities Buying; Nifty Crosses 25,250
Mumbai: Indian equity markets opened the day on a positive note on Friday, with the BSE Sensex rising by nearly 300 points and the NSE...
Mumbai: Indian equity markets opened the day on a positive note on Friday, with the BSE Sensex rising by nearly 300 points and the NSE Nifty trading above the 25,250 mark, led by buying in realty and utilities stocks.
The 30-share Sensex surged 299.21 points (0.36%) to 82,471.31 in early trade, while the Nifty 50 gained 70.05 points (0.28%), reaching 25,251.85.
Sector Movers
Among Sensex constituents, Power Grid, Adani Ports, Axis Bank, SBI, NTPC, Asian Paints, ITC, HDFC Bank, Bharat Electronics, and Titan were the top gainers.
On the flip side, Tata Steel, Tech Mahindra, Bajaj Finance, Mahindra & Mahindra, Sun Pharma, and Bharti Airtel lagged behind.
Notably, Tata Consultancy Services (TCS) slipped over 0.7% despite posting better-than-expected revenue and margin numbers for the September quarter, reflecting profit booking in IT stocks.
Investor Sentiment and FII Activity
Foreign Institutional Investors (FIIs) were net buyers, purchasing equities worth ₹1,308.16 crore on Thursday, according to exchange data.
“The overall market environment is turning positive. Domestically, indications of a U.S.-India trade deal, alongside India rebalancing its oil imports, are supporting investor confidence. FIIs have been active buyers in the cash market over the last three trading sessions, which bodes well for the market,” said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.
He added that strong quarterly results from TCS could boost sentiment for IT stocks despite the initial dip.
Global Market Trend
Asian markets showed mixed performance, with Hang Seng, Nikkei 225, and Shanghai SSE Composite trading lower, while Seoul’s Kospi moved higher.
In the U.S., major indices retreated from record highs on Thursday, while Brent crude dipped 0.14% to $65.12 a barrel.
Recent Performance Snapshot
On Thursday, the Sensex had surged 398.44 points, closing at 82,172.10, while the Nifty gained 135.65 points, ending at 25,181.80.