<p>Amid the easing geopolitical situation, <a href="https://www.mid-day.com/business/stock-market/article/stock-market-updates-sensex-gains-579-points-nifty-closes-above-24100-on-easing-oil-prices-and-global-cues-23637904" rel="nofollow">Indian equity markets </a>on Friday opened higher, with benchmark indices rising nearly 1 per cent each as buying was led by IT, metal, pharma, and chemical stocks.&nbsp;</p>
<p>According to IANS, the Sensex on Friday began the session at 78,152.34, up 650 points or 0.84 per cent, while the Nifty opened around 200 points or 0.83 per cent higher at 24,375.65.</p>
<h2>Sectoral indices</h2>
<p>Sector-wise, Nifty IT surged nearly 2 per cent, while Nifty Metal gained 1.66 per cent. Nifty MidSmall IT &amp; Telecom, Chemicals, and Pharma indices advanced over 1 per cent, 0.82 per cent and 0.72 per cent, respectively. On the other hand, the Nifty PSU Bank index declined 0.87 per cent.</p>
<p>Among Nifty 50 constituents, Tata Motors Passenger Vehicles (TMPV), NTPC, SBI and Axis Bank were the top losers.</p>
<p>The broader market remained firm, with Nifty Smallcap 50 and Nifty Smallcap 100 indices rising 0.48 per cent and 0.46 per cent, respectively. <a href="https://www.mid-day.com/business/business-news/article/stock-market-update-sensex-jumps-nifty-rises-above-24100-in-early-trade-23637860" rel="nofollow">Nifty 100 gained 0.46 per cent</a>, while Nifty 500 advanced 0.41 per cent. Furthermore, India VIX, the volatility index, fell 1.62 per cent to 12.09.</p>
<h2>Global markets</h2>
<p>International oil benchmark Brent crude rose 0.77 per cent to USD 72.36 per barrel, while US West Texas Intermediate (WTI) crude gained 0.68 per cent but remained below USD 70 per barrel.</p>
<p>Talking about the <a href="https://www.mid-day.com/business/business-news/article/stock-market-update-sensex-jumps-200-points-nifty-trades-above-23-900-23637711" rel="nofollow">Asian markets, shares traded largely higher</a>, with the Nikkei, Hang Seng and KOSPI rising up to 3 per cent.</p>
<p>On the other hand, Wall Street ended lower overnight amid selling in technology shares. The Nasdaq declined 0.80 per cent, while the S&amp;P 500 closed flat.</p>
<h2>Expert opinion</h2>
<p>The analyst, while expressing their views on the string market opening on Friday, highlighted that the near-term outlook remains cautiously optimistic. For the Nifty, sustained strength above the 24,000 mark keeps the broader trend positive, with immediate resistance seen at 24,300, followed by 24,450, as per IANS.&nbsp;</p>
<p>They further highlighted, on the downside, 24,050 remains a key support level, while a breach could trigger a corrective move towards 23,900.</p>
<p>Investors should remain watchful of the ongoing global technology sell-off, as renewed weakness in semiconductor stocks could prompt profit booking after the recent sharp rally in domestic IT names, the analyst added.</p>
<p><strong>(With inputs from IANS)</strong></p>

Sensex surged 650 points and Nifty crossed 24,300 in early trade, led by gains in IT, metal and pharma stocks as easing geopolitical tensions lifted sentiment

Stock market update: Sensex jumps 650 points, Nifty crosses 24,300 in strong opening

Gold jumps Rs 1,750, silver also gains in Mumbai and Delhi

Indian equity markets opened sharply higher on Friday, with the Sensex gaining 650 points and the Nifty crossing 24,300. IT, metal, pharma and chemical stocks led the rally as easing geopolitical tensions and positive Asian market cues boosted investor sentiment

Sensex jumps 650 points, Nifty crosses 24,300 in strong opening

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