Stock Market Starts Strong; Sensex Rises 207 Points, Nifty Above 25,600

In the previous trading session on Thursday, Indian equity benchmarks continued their upward momentum, with the Sensex rising 1,000.36 points, or 1.21 per cent, to close at 83,755.87

Stock Market Today

Source : PTI

The Indian stock market opened on a positive note on Friday, with both benchmark indices extending their gains, boosted by positive global cues. The Sensex opened at 83,962.63, rising 206.76 points or 0.25 per cent, while the Nifty began the session at 25,603.15, up 54.15 points or 0.21 per cent. The early uptick reflects continued investor optimism and strong market sentiment, following a robust performance in the previous session.

Top gainers on the Nifty included L&T, NTPC, SBI, Hindalco, and Axis Bank. On the other hand, HDFC Bank, Cipla, SBI Life Insurance, Tata Consumer, and Kotak Mahindra Bank were among the notable losers.

VK Vijayakumar, Chief Investment Strategist, Geojit Investments, noted, "A significant feature of the ongoing bull market which started after the Covid crash ( 7511 Nifty on 23rd March 2020) is its ability to climb all walls of worries. High inflation, aggressive monetary tightening by the central banks, geopolitical events including some wars and conflicts, and unprecedented tariff threats, did pose some threats to the rally, but the bull market climbed all these walls of worries. It appears that the rally is unlikely to be impacted by the approaching July 9th tariff deadline imposed by President Trump. News that the July 9th deadline is likely to be extended is a positive for the market."

"A significant development in the currency market is the sustained weakness in the dollar with the dollar index declining to around 97. This explains the big FII investment of Rs 12594 crores yesterday which is a huge buy figure even though it includes some bulk deals. This big FII buying has lifted large caps like HDFC Bank, ICICI Bank, Bharti, RIL and Bajaj Finance, which in turn, has contributed to the sharp spike in the benchmark indices. The market momentum is strong but some profit booking is likely in the near-term," he added.

Previous Trading Session

In the previous trading session on Thursday, Indian equity benchmarks continued their upward momentum, with the Sensex rising 1,000.36 points, or 1.21 per cent, to close at 83,755.87, and the Nifty advancing 304.25 points, or 1.21 per cent, to end at 25,549.00. Market breadth was mildly positive, as 1,983 stocks gained, 1,855 declined, and 151 remained unchanged.

Among the top performers on the Nifty were Shriram Finance, Hindalco Industries, Tata Steel, Jio Financial, and Adani Ports. Meanwhile, the major laggards included Dr. Reddy’s Laboratories, Tech Mahindra, Hero MotoCorp, Maruti Suzuki, and SBI.