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Benchmarks Sensex and Nifty50 may start on a positive note on Friday, tracking strong global cues
Stock Market Outlook
Sensex Today: Benchmark indices Sensex and Nifty50 trimmed early gains on Friday as selling pressure mounted in pharma and metal stocks.
By 3:15 PM, the BSE Sensex was up 314 points, or 0.39%, at 80,556, while the NSE Nifty 50 rose by 27 points, or 0.11%, to 24,361.60.
Among the top gainers on the Sensex were Adani Ports, Bajaj Finance, IndusInd Bank, and Maruti Suzuki. On the flip side, Nestle India, NTPC, Bharti Airtel, Ultratech Cement, and Hindustan Unilever were among the biggest losers in the benchmark index.
In the broader market, the Nifty Midcap100 index slipped 0.5%, whereas the Nifty Smallcap100 inched up 0.24%. Sector-wise, indices like Nifty IT, Auto, Bank, and Oil & Gas were in the green, while energy, FMCG, pharma, and realty sectors were under pressure.
In the primary market space, the basis of allotment for Ather Energy IPO shares is expected to be finalised today. In the SME segment, the Wagons Learning IPO opened for public subscription, while allotments for Iware Supply Chain Services IPO are also due. Meanwhile, the Kenrik Industries IPO and Arunaya Organics IPO entered their third day of bidding.
Interestingly, Indian equity markets defied global headwinds including tariff-related tensions and muted corporate earnings. The Nifty50 still posted a strong 3.5% month-on-month gain in April, even after a sharp pullback around the ‘Liberation Day’ trading session.
Global Cues
Asian markets were buzzing in trade, tracking Wall Street. Nikkei led with a gain of 1.10 per cent, followed by Asia Dow of 0.72 per cent, ASX 200 up 0.63 per cent, and Kospi up 0.11 per cent. Shanghai Composite, on the other hand, traded lower by 0.32 per cent.
Meanwhile, overnight in the US, major indices settled higher, with tech-heavy Nasdaq leading the charge. Nasdaq ended 1.52 per cent higher, while Dow Jones settled 0.21 per cent higher, and S&P 500 closed 0.63 per cent higher.
US 10-year Treasury yields rose to 4.23 per cent despite signs of economic contraction and flat inflation in March. Safe-haven gold slipped to a two-week low amid easing trade tensions and a holiday in top consumer China.
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