Indian benchmark equity indices, Sensex and Nifty, experienced a significant rebound in early trade, buoyed by a global market rally and a notable decline in Brent crude oil prices, offering a positive outlook for investors.
Sensex and Nifty50 Performance: Key Market Highlights Today
- Indian benchmark equity indices, Sensex and Nifty, rebounded in early trade on Friday.
- The rebound was primarily driven by a rally in global markets and easing Brent crude oil prices, which fell below USD 105 per barrel.
- Hopes of progress in US-Iran peace negotiations also contributed to the positive market sentiment.
- Major gainers included ICICI Bank, Asian Paints, HDFC Bank, and Kotak Mahindra Bank, while Power Grid and Tech Mahindra were among the laggards.
- Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,891.21 crore on Thursday, despite the current rebound.
Benchmark equity indices rebounded in early deals on Friday amid easing oil prices and a rally in global markets.
Hopes of progress in the US-Iran peace negotiations also added to markets' optimism.
Gainers and losers on Dalal Street
The 30-share BSE Sensex climbed 332.39 points to 75,507.09 in early trade. The 50-share NSE Nifty went up by 84.60 points to 23,747.40.
From the 30-Sensex firms, ICICI Bank, Asian Paints, HDFC Bank, Kotak Mahindra Bank, Axis Bank and UltraTech Cement were among the major winners.
Power Grid, Tech Mahindra, Tata Consultancy Services and ITC were among the laggards.
Global and Oil Market Influence
Brent crude, the global oil benchmark, traded at around USD 104 per barrel level.
Brent crude declining to below $105 and rupee appreciation are positive developments, VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
In Asian markets, South Korea's benchmark Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were trading higher.
US markets ended higher on Thursday.
FII Activity and Previous Day's Close
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,891.21 crore on Thursday, according to exchange data.
