Indian stock markets started the trading day on a cautious note, reflecting a blend of optimism and uncertainty. The NSE Nifty 50 opened at 24,313, down by 21 points or 0.09%, but quickly made a comeback, climbing 100 points or 0.51% to reach 24,459. Meanwhile, the BSE Sensex kicked off at 80,302, gaining 60 points or 0.07%, before surging 526 points or 0.64% to hit 80,745.
Bank Nifty and Midcap Indices Show Positive Movement
The Bank Nifty index started strong, up by 450 points or 0.85%, landing at 55,555.55. The Nifty Midcap 100 also saw a positive opening, advancing 90 points or 0.21% to settle at 54,238.85.
Market Insights from Experts
“The previous trading session ended on a flat note, but an aggressive last-minute buyout mitigated losses. This action highlighted that 24,200 is a crucial support level in the short term. Resistance remains significant between 24,200 and 24,500, and breaking this range could propel the index towards 24,800,” explained Akshay Chinchalkar, Head of Research at Axis Securities.
Top Performers in Nifty 50
The day saw some notable gainers among the Nifty 50 stocks:
- Adani Ports
- Maruti Suzuki
- Axis Bank
- Hindalco
- Trent
Geopolitical Developments Impacting Markets
Market participants are closely monitoring the evolving situation between India and Pakistan, particularly following the recent Pahalgam terror attack. In response, Prime Minister Modi convened several high-level cabinet meetings this week, empowering the Indian Armed Forces to respond decisively to any emerging threats.
Asian Markets Reflect Mixed Sentiment
In the broader Asian landscape, markets displayed varied performance. Japan’s Nikkei 225 climbed nearly 1%, while the Topix remained in positive territory. Conversely, Australia’s ASX 200 experienced a slight decline, and South Korea’s Kospi fell by 0.5%, with the smaller Kosdaq remaining stable.
Crude Oil Prices on the Rise
Additionally, crude oil prices attracted attention on Friday morning, with both global benchmarks witnessing slight gains. WTI crude oil increased by 0.54%, trading at $59.58 per barrel, while Brent crude rose 0.55%, reaching $62.47.
As the day unfolds, investors will be keenly observing both local market trends and international developments, which may significantly influence trading activities.
