Indian Stock Market Opens Higher for Second Straight Session; Sensex, Nifty Gain
Indian Stock Market Starts Friday on a Positive Note
The Indian stock market opened higher on Friday for the second consecutive session, extending its recovery from recent losses. Buying interest was visible in realty, metal and pharmaceutical stocks, while rising crude oil prices and higher US bond yields remained key concerns for investors.
The Sensex opened 163.35 points, or 0.21%, higher at 77,701.07, while the Nifty gained 52.20 points, or 0.22%, to open at 24,284.05.
Realty, Metal and Pharma Stocks Lead Gains
Among sectoral indices, Nifty Realty emerged as the top gainer in early trade, rising around 0.70%. Nifty Metal advanced 0.48%, while Nifty Pharma gained 0.32%.
Nifty MidSmall Healthcare and Nifty REITs & Realty were also trading in positive territory, gaining 0.32% and 0.28%, respectively.
IT and Auto Stocks Under Pressure
The IT sector remained under pressure. Nifty IT declined 0.60%, making it the biggest sectoral laggard during early trading.
MidSmall IT & Telecom slipped 0.17%, while Nifty Auto declined 0.19%.
Rising Crude Oil Prices Remain a Concern
Brent crude was trading around $93.96 per barrel, raising concerns for oil-importing economies such as India.
Oil prices gained after US Treasury Secretary Scott Bessent indicated that Washington could impose stringent sanctions on Iran. This raised concerns about possible disruptions to global crude oil supplies.
Higher crude prices could put pressure on inflation, corporate margins and India's external balance if the trend continues.
US Bond Yields Could Trigger Profit Booking
Market analysts have cautioned that the previous session's rally could face resistance amid elevated crude prices and higher US Treasury yields.
Large-cap stocks could remain under pressure, while investors may look to book profits after the recent recovery. However, institutional buying and improving corporate fundamentals could continue to support the broader market.
NBFC, Pharma and CDMO Stocks in Focus
Analysts continue to see strength in the NBFC sector, while digital platforms, pharmaceutical companies and CDMO stocks are also attracting investor interest.
Despite relatively high valuations in some segments, these sectors could remain in focus if buying momentum continues.
Market Outlook
The Indian stock market is likely to remain range-bound as long as crude oil prices stay elevated. Investors will closely track crude prices, US bond yields, institutional flows and geopolitical developments for further direction.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
