Defying a downbeat weekly trend, India’s benchmark stock indices opened firmly in the green on the week’s final trading session. The 30-share Sensex rose 217 points or 0.27% to 79,452, and Nifty gained 0.29% in pre-open deals.
The rally caps off a week where both indices shed nearly 2%, driven by global headwinds including Middle East flare-ups and US election jitters. Domestic factors like muted Q2 previews added to the woes.
Positive Asian markets and lower-than-expected US jobless claims overnight set an optimistic tone. Domestic buying focused on oversold largecaps, particularly in financials and consumer goods.
Key performers included Reliance Industries, which bounced back 1%, alongside metal pack leaders like Hindalco. Midcaps and smallcaps trailed slightly but showed signs of stabilization.
Analysts urge caution, pointing to elevated valuations and pending corporate results. ‘This could be a technical bounce rather than a trend reversal,’ warned a veteran strategist. The day’s close will offer clearer signals on sustainability.