- Indian benchmark indices surged; Sensex gained 827 points, Nifty 244.
- Global markets also rose, ignoring ongoing West Asia geopolitical tensions.
- Experts note markets confidently disregard current geopolitical instability.
The Indian benchmark indices rose higher on Friday as the Sensex gained 827 points to settle at 77,569 and the Nifty rose 244 points to close trade at 24,206 at 3:30 PM.
In the 30-share BSE Sensex, among the top gainers were stocks such as Reliance, Bharat Electronics, TechMahindra, Axis Bank and Tata Steel. Meanwhile, among the laggards were stocks like Trent, Sun Pharmaceuticals, Bharti Airtel and Eternal.
In the broader markets, the Nifty Smallcap 100 gained 1.55 per cent as volatility declined. Sectorally, the Nifty Realty index rose 3.49 per cent and the Nifty FMCG index declined 0.08 per cent.
Previously, during the early morning session, the Sensex jumped 694.83 points to 77,423.82 in early trade and the Nifty surged 195.95 points to 24,154.85 at 9:15 AM.
Asian Markets
Asian equity markets traded higher on Friday even as geopolitical tensions in West Asia continued without any clear signs of a resolution.
South Korea’s Kospi surged more than 4 per cent, Japan’s Nikkei 225 advanced 1.91 per cent, Shanghai’s SSE Composite gained 0.76 per cent and Hong Kong’s Hang Seng climbed 1.73 per cent.
US markets also ended Thursday’s session in positive territory.
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Markets Ignore Geopolitical Concerns
Commenting on the market trend, VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said, “Tensions in West Asia continue without any clarity of a resolution to the geopolitical crisis. However, interestingly, markets are largely ignoring these negative developments.”
He added, “Global stock markets have completely ignored the renewed tensions.”
Vijayakumar further said, “This confident message from the market is significant. But investors have to be cautious, warranting monitoring of the developments.”
Crude Oil Edges Higher
Brent crude, the global oil benchmark, was trading 0.33 per cent higher at USD 76.55 per barrel.
FIIs Continue Selling
Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth ₹532.86 crore on Thursday, according to exchange data.
Benchmark Indices End Higher
On Thursday, the BSE Sensex rose 238.22 points, or 0.31 per cent, to settle at 76,741.82.
The Nifty 50 gained 80.75 points, or 0.34 per cent, to close at 23,962.80.
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