Indian equity markets opened on a cautiously positive note on Friday, with the Sensex and Nifty opening higher but failing to hold on to the initial gains as rising crude oil prices and overnight losses in global markets weighed on sentiment. The Sensex opened at 77,701.07 against its previous close of 77,537.72, gaining more than 160 points, while the Nifty opened at 24,284.05, compared with its previous close of 24,231.85.
At the time of reporting, however, the recovery had faded. The Nifty was trading at around 24,221.35, down 10.50 points or 0.04 per cent, while the Sensex stood at around 77,493.20, lower by 44.52 points or 0.06 per cent. Most broader market indices traded in the red, while several sectoral indices also remained under pressure. Metal and private bank indices were among those trading in positive territory.
Stock market today: Global cues keep Dalal Street cautious
Market and banking expert Ajay Bagga said, “Asian markets today are trading defensively into that overnight yield reversal. Asian bonds declined and the dollar stayed under pressure as investors bet that US efforts to contain borrowing costs through buybacks may offer only temporary relief. This follows a sharp one-day rebound Thursday, South Korea’s KOSPI had surged around 6% on a chipmaker rebound and Japan’s Nikkei gained roughly 1.3% to above 66,000, that risks unwinding as yields resume climbing.”
Bagga said India is benefiting from an Anti-AI momentum flow, but elevated oil prices remain a risk as they could fuel inflation and tighter monetary policy, potentially constricting the country’s robust macro outlook.
Sensex, Nifty today: Crude oil and US yields weigh
Devarsh Vakil of HSL Prime Research said major US stock indexes suffered sharp declines after a brief reprieve in the bond market abruptly reversed. He said investor anxiety over persistent inflation and rising national debt pushed 10- and 30-year US Treasury yields higher despite recent efforts by the Treasury Department to boost long-term government debt buybacks, weighing on equities.
“While Crude prices rose to one-month highs after President Trump threatened ‘tremendous economic consequences’ on nations trading with Iran,” he said, adding, “Asian markets opened lower today but are now recovering, tracking a sharp pullback on Wall Street as long-dated U.S. Treasury yields rebounded.”
Brent crude was trading at around USD 93.42 per barrel, while crude oil was around USD 86.37 per barrel at the time of reporting.
Dalal Street today: Key Nifty levels to watch
Market analyst Vipin Dixena said the market was entering Friday’s session with a cautiously positive bias. “I would not read this as a confirmed trend reversal yet, particularly with crude oil near $94 and global bond-market stress still keeping investors cautious,” he stressed.
“I see 24,300-24,400 as the key resistance zone for Nifty today. A sustained move above 24,400 could strengthen the recovery towards 24,500, while 24,000 remains the crucial downside support. Until Nifty decisively crosses the resistance zone, I would treat the current move as a recovery within a broader consolidation rather than an established uptrend,” Dixena noted.
On NSE, Kotak Bank, Hindalco, HDFC Bank, Tata Steel, Power Grid, Coal India, Eicher Motor, Axis Bank, Bajaj Finance, NTPC and ONGC were among the gainers. TCS, Titan, Grasim, Infosys, HCL Tech, IndiGo, L&T, JSW Steel and ITC were among the losers.
On BSE, Kotak Bank, BEL, Tata Steel, HDFC Bank, Axis Bank, SBI and ICICI Bank were among the major gainers, while TCS, HCL Tech, Hindustan Unilever, M&M, ITC, Reliance, L&T and Tech Mahindra were among the major losers.
(with inputs from ANI)
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Khalid Lateef is a Sub-Editor at NewsX Digital, specializing in Indian politics and global affairs. He also covers viral trending stories and major crime developments.
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