BSE Sensex and Nifty 50 traded higher, supported by ceasefire optimism and foreign inflows. Markets showed resilience despite global caution, with investors closely tracking West Asia developments
Representational image. File pic
With the West Asia conflict now standing at a very critical stage, benchmark indices Sensex and Nifty on Friday were trading in positive territory during the early hours. The indices on April 17 were supported by optimism around easing geopolitical tensions and fresh foreign fund inflows.
Experts, while expressing their views on the market situation amid the ceasefire, said that the temporary ceasefire between Israel and Lebanon has added to markets' optimism, with expectations that this could pave the way for renewed US-Iran negotiations, as per PTI.
Sensex climbs 177 points
The 30-share BSE Sensex climbed 177.52 points to 78,166.20 in early trade. Whereas the 50-share NSE Nifty advanced 37.4 points to 24,234.15.
Considering that the Sensex declined 122.56 points or 0.16 per cent to settle at 77,988.68 on April 16, Thursday, the marginal gain on Friday signifies that the dynamics of the stock market could remain highly volatile for the next few days.
Foreign Institutional Investors (FIIs) bought equities worth Rs 382.36 crore on Thursday, according to exchange data.
Top gainers and losers
While the market indices on Friday rose marginally, ITC, Adani Ports, Maruti, Trent, Power Grid and Hindustan Unilever were among the major winners. On the other hand, HCL Tech, Tata Steel, Bajaj Finance and ICICI Bank were among the laggards.
Global markets
In Asian markets, South Korea's benchmark Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were trading lower. Whereas the US markets on Thursday ended marginally higher.
Expert Opinion
V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. "The resilience of the mother market, the US, and positive news relating to a ceasefire between Israel and Lebanon bode well for the market."
Hariprasad K., while speaking on the current market situation, said, "While US indices continue to scale record highs, supported by optimism around easing geopolitical tensions, Asian markets have opened lower, reflecting a more cautious interpretation of the same developments.”
Wall Street extended its rally, with the S&P 500 and Nasdaq closing at fresh highs on the back of improving sentiment around a potential resolution in the Middle East, he said.
An expert further added, "Reports of a temporary ceasefire between Israel and Lebanon have added to optimism, with expectations that this could pave the way for renewed US-Iran negotiations. However, Asian markets appear less convinced, trading lower as investors remain wary of how durable these developments are, especially given the fragile nature of geopolitical agreements in the region," as per PTI.
(With inputs from PTI)
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