Indian equity markets opened higher on Friday, the final trading session of the week, with both the BSE Sensex and NIFTY 50 trading in positive territory during early deals. The gains supported investor sentiment amid buying interest in information technology and automobile stocks.
Analysts attributed the market’s positive momentum to supportive global cues, value buying following the recent decline, and improved investor sentiment.
In early trade, the Sensex opened more than 100 points higher at 75,499.37, while the NIFTY 50 traded around 55 points higher at 23,745.10. The previous trading session had witnessed volatility, but investors returned to buying activity on the final day of the week, supporting market sentiment.
The IT sector emerged as the best performer in early trade, with the NIFTY IT index rising nearly 1.5%. IT stocks witnessed a rebound after remaining under pressure in recent sessions. Market experts said investors engaged in value buying in large IT stocks following the recent decline, leading to increased sectoral buying support.
India’s IT sector remains significantly influenced by global technology demand and US economic indicators. Stability in overseas markets and softness in the dollar index also supported the sector.
Automobile stocks also contributed to market gains, with the NIFTY Auto index rising more than 1% in early trade. Analysts said expectations of the festive season, improved sales figures, and rising demand for electric vehicles increased investor interest in automobile companies.
Strength in the automobile sector indicated continued investor confidence in companies linked to domestic demand. While IT and auto stocks advanced, metal and public sector banking stocks remained under pressure. The NIFTY Metal and NIFTY PSU Bank indices traded lower during the session.
Global economic conditions also influenced Indian markets. Positive signals from US and European markets strengthened investor sentiment. Fluctuations in crude oil prices, the US Federal Reserve’s interest rate policy, and global inflation trends also continued to influence investor strategy.
