Indian benchmark indices rebounded after a volatile opening on Friday, with buying interest returning by mid-morning and pushing both the Sensex and Nifty into positive territory.
New Delhi, April 17: Indian equity markets traded with mild gains in early trade on Friday after opening on a weak note, as investors stepped in to buy frontline stocks following Thursday’s subdued close.
By 10 AM, the BSE Sensex was up 151.09 points, or 0.19%, at 78,139.77, while the NSE Nifty 50 gained 28.80 points, or 0.12%, to 24,225.55. The move came after both indices witnessed sharp swings in the opening hour, reflecting continued market volatility.
Volatile Start, Gradual Recovery
The Sensex opened lower at 77,976.13, down 12.55 points from the previous close, and slipped further to an intraday low of 77,726.23 before recovering. It later climbed to a high of 78,169.61, indicating renewed buying support.
Similarly, the Nifty began the session at 24,165.90, lower by 30.85 points, and moved between 24,096.05 and 24,238.55during early trade before stabilising in positive territory.
The recovery follows Thursday’s cautious session, when the Sensex had closed down 0.16% at 77,988.68 and the Nifty slipped 0.14% to 24,196.75, as investors booked profits after recent gains.
Key Movers in Early Trade
Among major stocks on the Sensex, gains were led by:
- Adani Ports
- Maruti Suzuki
- ITC
- Trent
- TMPV
These stocks rose between 0.46% and 1.60%, helping offset weakness in select sectors.
On the losing side, notable decliners included:
- HDFC Life, down 3.51%
- Wipro
- Hindalco
- HCL Tech
- Bajaj Auto
The decline in IT and select financial counters limited the broader upside in the indices.
Market Breadth Remains Strong
Despite the volatile opening, the broader market showed a positive bias.
Out of 2,696 stocks traded, 1,966 advanced, while 730 declined, suggesting that buying was not limited to heavyweight stocks alone.
Within the benchmark indices:
- 17 of 30 Sensex stocks were trading higher
- 26 of 50 Nifty stocks were in the green
This positive market breadth indicates that investor sentiment remains broadly constructive despite short-term fluctuations.
Why This Matters
Friday’s early recovery suggests that investors are still willing to accumulate stocks on dips, even as global cues and the ongoing earnings season keep volatility elevated.
Market participants are closely watching quarterly corporate earnings, crude oil prices, and global geopolitical developments, all of which are expected to influence trading direction in the coming sessions.
Outlook
While early gains point to resilience in domestic equities, analysts expect markets to remain range-bound in the near term as traders assess earnings announcements and overseas developments.
inputs and images : Hindustan samachar
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Edited By D.Rishidhar Reddy
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