Indian benchmark indices opened on a mildly positive note on Friday, tracking strong global cues after technology stocks rallied across Wall Street and Asian markets. Optimism surrounding robust earnings from major US tech companies helped improve investor sentiment, while easing crude oil prices also lent support.
The BSE Sensex rose about 26 points and crossed 77,950, while the NSE Nifty50 inched up 30 points and tested 24,350, as of 9:15 AM.
GIFT Nifty Signals Positive Opening
Ahead of the opening bell, GIFT Nifty was trading at 24,447, up 89 points, indicating a higher opening for Indian benchmark indices.
At around 9:01 AM, the Sensex was trading at 77,973.05, up 44.90 points or 0.06 per cent. The Nifty gained 86.10 points, or 0.35 per cent, to 24,403.25.
Market participants are expected to keep a close watch on global technology stocks, corporate earnings, commodity prices and overseas market trends through the trading session.
Asian Markets Rally On Technology Boost
Equity markets across Asia posted strong gains after upbeat earnings from US technology giants fuelled buying across semiconductor and technology stocks.
South Korea’s Kospi surged more than 13 per cent in early trade, with heavyweight chipmakers SK Hynix and Samsung Electronics witnessing sharp gains of around 25 per cent and 20 per cent, respectively.
Japan’s Nikkei 225 climbed 5.35 per cent, while China’s CSI 100 advanced 1.83 per cent, reflecting broad-based optimism across regional markets.
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Wall Street Ends Sharply Higher
US equities ended Thursday’s session with strong gains after better-than-expected quarterly results from Amazon and Microsoft reinforced confidence in the technology sector.
The Dow Jones Industrial Average rose 1.19 per cent, while the S&P 500 gained 1.66 per cent. The technology-heavy Nasdaq Composite outperformed, jumping 2.78 per cent.
The rally has lifted global risk appetite, with investors expecting technology stocks to remain in focus.
Crude Oil Extends Decline
Oil prices remained under pressure on Friday, providing a supportive backdrop for import-dependent economies such as India.
The decline followed reports that the Saudi Arabia-led coalition had proposed stronger defence co-operation in the Red Sea, easing concerns over potential supply disruptions in the region.
The July crude oil futures contract was trading at $88.18 per barrel, down 0.95 per cent.
Gold, Silver Trade Lower
Precious metals edged lower during early trade.
Gold futures slipped 0.22 per cent, while silver futures declined 0.10 per cent, as improving global risk sentiment reduced demand for safe-haven assets.
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