Mumbai, May 22: The Indian stock market opened on a positive note on Friday, buoyed by strong global signals. At 9:17 AM, the Sensex rose by 161 points or 0.21% to reach 75,344, while the Nifty gained 40 points or 0.17%, standing at 23,697.
The auto sector led the early gains in the market, with the Nifty Auto index emerging as the top performer. Other indices such as Nifty Private Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Commodities, Nifty Services, Nifty Metal, and Nifty India Defense also traded in the green. However, Nifty Media, Nifty Healthcare, Nifty Realty, Nifty IT, and Nifty Oil and Gas were in the red.
Midcap and small-cap stocks showed mixed performance. The Nifty Midcap 100 index increased by 68 points or 0.11% to 61,369, while the Nifty Smallcap 100 index dipped by 7 points or 0.04% to 17,976.
Among the gainers in the Sensex pack were HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finserv, Maruti Suzuki, Asian Paints, UltraTech Cement, SBI, NTPC, Tata Steel, Bharti Airtel, Titan, Adani Ports, HUL, L&T, and Sun Pharma. Conversely, Power Grid, ITC, Tech Mahindra, Infosys, TCS, BEL, and HCL Tech were among the losers.
Global markets also exhibited an upward trend, with Tokyo, Shanghai, Seoul, Jakarta, and Bangkok all in the green. The U.S. markets closed positively on Thursday, with the Dow Jones rising by 0.55% and the technology index Nasdaq gaining 0.09%.
The surge in global markets is attributed to easing tensions from Iran. According to Iran’s news agency ISNA, negotiations are ongoing between Tehran and Washington through intermediaries, with both sides exchanging messages and drafts to establish a formal framework for ending the conflict.
Foreign institutional investors (FIIs) remained net sellers in Thursday’s session, offloading equities worth ₹1,891.21 crore. In contrast, domestic institutional investors (DIIs) purchased ₹2,492.42 crore worth of stocks.
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