CHENNAI: Indian equity markets began Friday’s trade on a positive note, supported by renewed foreign portfolio inflows and upbeat earnings from Tata Consultancy Services (TCS). The Sensex rose nearly 340 points in early trade, while the Nifty crossed the 25,200 mark, signaling a firm start to the last trading day of the week.
Gains were broad-based across key sectors such as energy, banking, and consumer durables, though IT and metal stocks showed some weakness. TCS shares opened slightly lower despite strong revenue growth, as investors booked profits following its quarterly results. NTPC gained after announcing a partnership with the Gujarat government to explore new energy ventures. Stocks such as ONGC, SBI Life, NTPC, and SBI were among early gainers, while Tata Steel, TCS, and Hindalco slipped in initial trade.
Market mood was supported by the return of foreign investors, who have been net buyers this week, and by optimism over the upcoming earnings season. However, traders remained cautious amid mixed global cues. Asian markets were trading on divergent paths—Hong Kong’s Hang Seng index slipped, while South Korea’s Kospi showed moderate gains.
The rupee opened steady around ₹88.78 against the US dollar, helped by Reserve Bank of India’s interventions and mild dollar weakness. Broader market participation remained measured, with midcap stocks largely flat and smallcaps posting marginal gains.
Analysts noted that Nifty is currently moving in a narrow range between 25,000 and 25,350. A breakout above this level could trigger further buying, but profit booking remains a near-term risk. Valuations in select sectors, especially midcaps and IT, are viewed as stretched after recent rallies.
Overall, the morning trend points to cautious optimism. Investors are likely to focus on large-cap names with strong earnings visibility, while watching for fresh global cues and continued foreign inflows to determine the market’s next direction.
