- Indian equities opened firm, tracking Asian markets, GIFT Nifty.
- Asian markets rebounded; Wall Street showed mixed closing performance.
- Oil prices remained stable; precious metals advanced on rate expectations.
Indian equity benchmarks experienced a firm start on Friday, tracking gains in GIFT Nifty and improving sentiment across Asian markets despite mixed global cues.
The BSE benchmark rang the opening bell about 450 points higher, testing 77,950, while the NSE Nifty50 started the session above 24,300, climbing more than 150 points, as of 9:15 AM.
GIFT Nifty Points To Positive Opening
Early signals from the derivatives market indicated a higher opening for domestic equities.
The GIFT Nifty was trading at 24,448, up around 182 points, reflecting optimism despite mixed trends across global markets.
In the pre-open session at around 9:03 AM, the Sensex was trading 421.88 points, or 0.54 per cent, higher at 77,924.00, while the Nifty advanced 204.80 points, or 0.85 per cent, to 24,383.15.
The upbeat start comes as investors assess easing concerns over global energy supplies, developments in overseas markets and expectations surrounding the US Federal Reserve’s interest rate trajectory.
Investors are expected to keep a close watch on international cues, foreign institutional investor activity and commodity prices through the session.
Asian Markets Recover From Early Weakness
Markets across the Asia-Pacific region rebounded after a subdued start to trading.
South Korea’s Kospi climbed around 1.4 per cent, while Japan’s Nikkei 225 traded nearly 0.3 per cent higher as investors returned to equities after recent profit booking in technology shares.
The recovery in regional markets helped improve overall risk sentiment heading into Friday’s session.
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Wall Street Delivers Mixed Finish
US markets ended Thursday’s session on a mixed note.
The Dow Jones Industrial Average gained more than 1 per cent, supported by buying in industrial and value stocks. However, the Nasdaq Composite declined around 0.8 per cent amid continued weakness in technology counters, while the S&P 500 ended largely unchanged.
The mixed performance reflected investor caution ahead of further economic data and monetary policy signals.
Oil Holds Firm As Hormuz Supply Concerns Ease
Crude oil prices remained relatively stable after tanker movement through the Strait of Hormuz improved, easing fears of fresh supply disruptions.
Brent crude futures were trading around $72 per barrel, with the market closely monitoring shipping activity through one of the world’s most important energy corridors.
The steadier oil prices are expected to offer some relief to import-dependent economies such as India by reducing concerns over inflation and corporate input costs.
Gold, Silver Advance On Fed Rate Expectations
Precious metals extended their gains after weaker-than-expected US employment data strengthened expectations that the Federal Reserve may refrain from raising interest rates in the near term.
Gold futures climbed around 1.6 per cent, while silver surged more than 2 per cent, as lower rate expectations boosted demand for non-yielding assets.
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