India's benchmark stock indices, the Sensex and Nifty, commenced Friday's trading session with notable gains, despite a backdrop of mixed international market signals. The Sensex climbed by as much as 267 points in early trade, reaching 75,540.89, while the Nifty 50 advanced past the 23,750 mark, briefly touching 23,774.95.
Technology stocks were among the top performers, contributing significantly to the early market rally. Tata Consultancy Services (TCS) saw a 1.30% increase, while Infosys and HCL Technologies each rose by 1.20%. Other key gainers included Adani Ports, which surged 2.24% to Rs 1813, and Power Grid, up 1.08%.
Market sentiment remained cautious due to a weakening rupee and escalating crude oil prices. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd., commented on potential government actions. "There are whispers of measures to bolster the rupee and attract capital into the economy. We await clearer directives on this front," Vijayakumar stated.
Vijayakumar also noted recent adjustments in fuel prices. "The hike in petrol and diesel prices by Rs 3 per litre and CNG by Rs 2 per kg suggests a cautious, staged approach by the government to manage cost-push inflation without triggering an abrupt spike," he added.
Globally, Asian markets presented a varied picture. Japan's Nikkei 225 and South Korea's Kospi both registered declines, falling 1.28% and 2.86% respectively. Hong Kong's Hang Seng index also dipped by 0.95%. In contrast, Wall Street concluded the previous session positively, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all closing higher.
Hariprasad K, a SEBI-registered research analyst and founder of Livelong Wealth, emphasized prudence amidst ongoing volatility. "Despite improved sentiment, markets remain highly reactive to headlines, driven by geopolitical uncertainties and crude oil fluctuations. From a risk management perspective, avoiding aggressive overnight leveraged positions remains a wise strategy until global stability improves," Hariprasad advised.
In the preceding session on Thursday, both Indian indices had posted strong performances, with the Sensex jumping 789.74 points (1.06%) to settle at 75,398.72, and the Nifty gaining 277 points (1.18%) to close at 23,689.60.