Indian Stock Market Opens in Green Amid Strong Global Signals; Sensex Surpasses 76,000

Mumbai, May 29: The Indian stock market opened in positive territory on Friday, buoyed by strong global signals. At 9:24 AM, the Sensex rose by 213 points or 0.28 percent, reaching 76,080, while the Nifty gained 44 points or 0.20 percent, climbing to 23,951.

In the early trading session, IT stocks led the market rally, with the Nifty IT index being the top gainer. Additionally, sectors such as Nifty PSU Bank, Nifty Realty, Nifty Pharma, Nifty Media, Nifty Healthcare, Nifty Private Bank, Nifty Services, Nifty Energy, and Nifty Commodity also showed gains. However, Nifty India Defense, Nifty Infra, Nifty PSU, and Nifty Consumer Durables were in the red.

Midcap and small-cap stocks exhibited mixed performance. The Nifty Midcap 100 index saw a slight increase of 18 points, reaching 62,578, while the Nifty Smallcap 100 index rose by 50 points to 18,345.

Among the gainers in the Sensex pack were Infosys, Trent, HCL Tech, TCS, Maruti Suzuki, Tech Mahindra, L&T, Axis Bank, Bajaj Finance, ICICI Bank, UltraTech Cement, SBI, HUL, and Titan. Conversely, losers included Bharti Airtel, ITC, Indigo, HDFC Bank, Eternal, Kotak Mahindra, Sun Pharma, and Bajaj Finserv.

Most Asian markets were also experiencing gains, with Tokyo, Hong Kong, Bangkok, Seoul, and Jakarta in the green. However, Shanghai was in the red. The US stock market closed positively on Thursday, with the Dow Jones up by 0.05 percent and the Nasdaq gaining 0.91 percent.

The global market rally is attributed to advancing peace talks between the US and Iran. Reports indicate that the US and Iran have agreed to a 60-day ceasefire memorandum of understanding (MoU), pending final approval from US President Donald Trump.

The agreement aims to extend the ceasefire and initiate formal discussions on the nuclear program, as well as negotiations regarding the opening of the Strait of Hormuz. As a result, crude oil prices have seen a decline. At the time of writing, WTI crude was down by 1.17 percent at $87.88 per barrel, while Brent crude fell by 0.85 percent to $91.94 per barrel.