Sensex Opens Lower, Nifty Below 25,400; Adani Stocks Provide Support.
Benchmark indices opened lower on Friday, dragged by IT sector losses, while gains in Adani group shares helped cushion the market fall. The S&P BSE Sensex dropped 260.39 points to 82,753.5, and the NSE Nifty50 fell 56.95 points to 25,366.65 by 9:30 am.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said the market is on an uptrend and well-positioned for record highs. “Fundamentals, technicals, and sentiment are favorable. Earnings are likely to improve from Q3 onwards, and short-covering could accelerate market gains,” he noted.
Top gainers at the open: Adani Ports (+1.6%), Bharat Electronics (+0.66%), Maruti Suzuki (+0.29%), Larsen & Toubro (+0.27%), NTPC (+0.15%). Top losers: TCS (-1%), HCL Technologies (-0.98%), Infosys (-0.74%), Power Grid (-0.73%), UltraTech Cement (-0.72%).
The Nifty Midcap100 rose 0.19% and the Nifty Smallcap100 gained 0.10%. The India VIX increased 1.44%. Sectoral trend: PSU Banks, Oil & Gas, Pharma, Media, Metal, and Realty were up, while IT, Private Banks, FMCG, Financial Services, Consumer Durables, Healthcare, and Auto declined.
Vijayakumar added that reports of a US-India trade deal and reduced tariffs have boosted sentiment, with foreign investors marginally turning buyers, keeping the market advantage with bulls.
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