Mumbai: On Friday morning, India’s equity indices showed a decline influenced by subdued global market trends.
As of 9:45 a.m., the Sensex was down by 166 points or 0.23 percent, standing at 73,497 points, while the Nifty recorded a decrease of 45 points or 0.21 percent, settling at 22,353 points.
Despite this, midcap and smallcap indices displayed a stronger performance. The Nifty midcap index rose by 204 points or 0.40 percent, reaching 51,357 points, and the Nifty smallcap index gained 151 points or 0.87 percent, reaching 16,747 points.
The India Vix declined by 0.85 percent to 20.17 points.
In sectoral performance, Auto, PSU Bank, Metal, Realty, Media, Energy, Infra, and Oil & Gas sectors saw notable gains, while IT, FMCG, Pharma, Financial services, and Private banks faced declines.
Among the Sensex constituents, 22 out of 30 stocks opened lower, with M&M leading as the top gainer with a rise of over 6 percent. Other major gainers included Tata Motors, Tata Steel, Power Grid, and SBI, while Axis Bank, Maruti Suzuki, Reliance Industries, Sun Pharma, and HUL were among the prominent losers.
Market experts noted a shift towards positive net institutional buying, along with a significant recovery of nearly 350 points in Nifty from its lows and substantial short positions in the market, suggesting potential for market recovery. They anticipate improved sentiments driven by positive developments on the political front.
Furthermore, they highlighted expectations for a recovery in FII-heavy stocks that were impacted by recent selling pressures.
