NEW DELHI: Indian equity markets opened on a strong note Friday, driven by improved global cues and value buying across sectors. The BSE Sensex traded at 74,951.39, up 1104.24 points or 1.5 per cent at 2.31 pm. Nifty 50 rose more than 375 points to 22,774.55 gaining 1.68 per cent.
The uptick comes on the heels of a global rebound in equities after a turbulent US session. Investors are also factoring in positive domestic cues and expectations of steady inflation. Banking, auto, and IT stocks were among the top gainers in the early session.
The benchmark indices closed in red on Wednesday ending the day below more than 0.5 per cent down. BSE Sensex ended the day at 73,847.15, down 380 points or 0.51% while Nifty50 closed at 22,399.15, down 137 points or 0.61%.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted, “The heightened uncertainty and volatility in global markets may persist for some time. However, India remains relatively insulated due to stable macros and fair largecap valuations.”
He added that long-term investors may consider selective buying in high-quality largecap stocks, particularly in financials and pharmaceuticals, as Trump is unlikely to target the pharma sector with tariffs.
Meanwhile, Nifty’s Consumer Durables index jumped 3%, and Metal, Realty, and Financial Services indices rose over 2%. Broader markets also participated in the rally, with Nifty Midcap 100 and Smallcap 100 gaining 2% each. Notably, India VIX, a key volatility gauge, fell by 10.2% to 20.47, indicating easing market anxiety.