Indian equity markets are indicating a firm opening on Friday, supported by positive global market cues and gains in GIFT Nifty. Early indications suggest benchmark indices may open in positive territory, although intraday volatility cannot be ruled out.
GIFT Nifty, formerly known as SGX Nifty, was trading at 23,654 in early trade, up about 64.5 points or 0.27%, indicating a positive start for domestic markets.
In the previous trading session, Indian benchmark indices opened higher but failed to sustain gains at elevated levels. Profit booking emerged during the day, eroding early gains and reflecting a cautious approach among investors at higher levels. India VIX, the volatility index, declined about 3% to 17.82.
Global cues remained supportive for Indian equities, with signals from US and Asian markets indicating improved investor sentiment. On Wall Street, the S&P 500 index closed with marginal gains. International crude oil prices declined, while expectations of potential peace talks in the Middle East supported market sentiment. Asian markets extended gains for a second consecutive session, while US equity futures traded higher.
Market participants will monitor quarterly earnings announcements from several companies including Sun Pharmaceutical Industries, Eicher Motors, Hindalco Industries, Colgate-Palmolive, Fortis Healthcare, Info Edge (Naukri.com), Narayana Hrudayalaya, NTPC Green Energy, Torrent Pharmaceuticals, TVS Electronics and Yatra Online.
Among stocks in focus, Paytm may remain active after SAIF Partners was reported to be considering the sale of around 8.6 million shares, representing about a 1.3% stake, through a block deal at a floor price of ₹1,120.65 per share.
Maruti Suzuki has announced a price increase of up to ₹30,000 across its models due to rising input costs. The revised prices will come into effect from June 1, 2026.
Indian Overseas Bank’s board has approved raising up to ₹5,000 crore through instruments including an FPO, QIP, rights issue or preferential issue. The bank has also approved the issuance of shares to employees and Basel-III Tier-II bonds.
Fino Payments Bank’s board approved management changes, appointing Ketan Merchant as chief executive officer for three months under an interim arrangement, while also extending the tenure of the chief financial officer.
On technical charts, the 23,400 level is being tracked as a key support for the market, while 23,800 may act as a resistance level. A move beyond these levels could result in further upside.
