StockMarket – Indian Equities Begin Friday on Firm Note as Foreign Buying Continues
StockMarket –Indian benchmark stock indices opened with modest gains on Friday, helped by continued buying from foreign institutional investors and a decline in global crude oil prices. Despite ongoing uncertainty across international financial markets and weakness in information technology shares, investor confidence in domestic equities remained intact during the opening session.
Foreign Investment Supports Market Momentum
The NSE Nifty 50 started the day at 24,361.45, gaining 44.30 points, or 0.18 percent. Meanwhile, the BSE Sensex opened 70.51 points higher at 77,998.66, reflecting a positive start for the broader market.
Market sentiment received support from sustained foreign institutional investor activity. Over the past three trading sessions, FIIs have collectively invested Rs 7,360 crore into Indian equities, providing stability at a time when several global markets continue to experience heightened volatility.
According to VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, investors are increasingly viewing India as a comparatively stable destination amid sharp fluctuations in overseas markets, particularly in the United States and South Korea. He noted that large-cap companies currently offer reasonable valuations along with encouraging long-term growth prospects. He also pointed out that the first-quarter corporate earnings released so far indicate improving profit growth, which could further strengthen investor confidence.
IT Shares Underperform While Other Sectors Advance
Sector-wise performance remained broadly positive during early trading, although the technology segment faced selling pressure. The Nifty IT index declined 2.26 percent, making it the only major sector trading in negative territory.
Most other sectoral indices recorded gains. Nifty Auto led the advance with a rise of 0.96 percent, followed by Nifty Metal, which climbed 0.60 percent. Nifty Pharma moved up 0.59 percent, while Nifty PSU Bank gained 0.38 percent. Nifty Media added 0.27 percent, and Nifty FMCG registered a smaller increase of 0.23 percent, reflecting broader buying interest across multiple industries.
Oil Prices Ease as Rupee Remains Stable
Global crude oil prices continued to soften, offering additional support to market sentiment. Brent crude futures were trading around 1.37 percent lower at approximately 85 US dollars per barrel at the time of reporting. Lower energy prices are generally viewed as beneficial for India’s import bill and inflation outlook.
The Indian rupee traded at Rs 95.68 against the US dollar, remaining relatively stable despite fluctuations in global currency markets.
Corporate Earnings in Focus
Investor attention is expected to shift toward a series of quarterly earnings announcements scheduled for later in the day. Several major companies, including ITC, Maruti Suzuki India, Bajaj Finserv, Indian Oil Corporation, GAIL (India), and Dixon Technologies, are set to report their first-quarter financial results.
The performance and management commentary from these companies are likely to influence individual stock movements and may also shape the broader market direction during the remainder of the trading session.
Global Markets Present a Mixed Picture
Asian equity markets delivered mixed performances in early trading. Japan’s Nikkei 225 posted strong gains of more than 4 percent, while South Korea’s KOSPI surged over 14 percent. Taiwan’s weighted index also recorded a sharp rise exceeding 7 percent.
However, not all regional markets shared the positive momentum. Hong Kong’s Hang Seng Index slipped 0.18 percent, and Singapore’s Straits Times Index declined 0.79 percent, highlighting the uneven sentiment across Asian exchanges.
Overnight, Wall Street closed firmly higher. The S&P 500 advanced 1.66 percent to finish at 7,437, while the Nasdaq climbed 2.79 percent to close at 25,124, providing a supportive backdrop for Asian trading despite continued global market volatility.