Mumbai, April 10 – The Indian stock market indices, Sensex and Nifty, rebounded on Friday morning, driven by a rally in banking stocks and a positive trend in global markets.
The 30-share BSE Sensex rose by 630.08 points to 77,261.73. The 50-share NSE Nifty climbed by 203.6 points to 23,978.70.
Among the 30 companies in the Sensex, Axis Bank, Asian Paints, Bajaj Finserv, State Bank of India, ICICI Bank, and Bajaj Finance were the top performers.
Sun Pharma, Infosys, Tata Consultancy Services, HCL Tech, Tech Mahindra, and Titan were the laggards.
Brent crude, the global benchmark for oil, traded up by 0.20% at $96.11 per barrel.
In Asian markets, the South Korean Kospi, the Japanese Nikkei 225 index, the Shanghai SSE Composite index, and the Hong Kong Hang Seng index were all trading higher.
US markets ended in positive territory on Thursday.
"The strength in US markets, where the Dow extended its rally, along with the broadly positive Asian markets, reflects continued optimism surrounding the fragile US-Iran ceasefire. While global sentiment has improved, it remains highly dependent on events.
"Any change in geopolitical developments can quickly alter risk appetite, especially through its impact on crude oil prices. This keeps the outlook positive, but not entirely stable," said Hariprasad K, Research Analyst and Founder, Livelong Wealth.
According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 1,711.19 crore on Thursday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 955.90 crore.
The market is currently in a "wait-and-see" phase, highly sensitive to news flow, with the direction dependent on three key factors: geopolitical developments, crude oil movement, and FII activity, said Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm.
On Thursday, the Sensex fell by 931.25 points or 1.20% to close at 76,631.65. The Nifty declined by 222.25 points or 0.93% to end at 23,775.10.
