Domestic equity benchmarks started flat on Friday but later rose, buoyed by relief in global oil prices and US President Donald Trump’s ceasefire declaration between Israel and Lebanon. Sensex commenced at 77,976, down 12 points, while Nifty began up 30 points at 24,165. The indices continued to trade positively, with the 30-scrip basket climbing 142 points to 78,130 and the 50-share index adding 28 points to 24,224, driven by buying in FMCG, energy, and realty stocks.
HDFC Life, Wipro, Hindalco Industries, Bharti Airtel, and JSW Steel were among the top laggards during the early trading session. Micro-cap and small-cap stocks led the momentum among broader indices, with the Nifty Microcap 250 trading around 1% higher and the Nifty Smallcap 250 rising about 1%. US President’s ceasefire announcement between Israel and Lebanon is expected to ease geopolitical tensions, with analysts recommending a cautious and selective investment approach due to prevailing global uncertainties and market volatility.
Analysts suggest refraining from initiating fresh long positions until the Nifty decisively breaks above and sustains the 24,500 level, signaling improved sentiment and potential for a sustained bullish trend. Brent crude futures fell by up to 1.4% to $97.99 per barrel, while US WTI crude traded at $92.91, down around 2%. Wall Street closed positively, with the S&P 500 up by 0.26% and the Nasdaq by 0.36%. Asian markets, however, traded negatively with Nikkei down 1%, KOSPI lower by about 1%, and Hang Seng slipping more than 1%.
Foreign institutional investors (FIIs) were net buyers for the second consecutive session in India, purchasing equities worth Rs 382 crore, while domestic institutional investors (DIIs) booked profits, offloading equities worth over Rs 3,400 crore.
