Indian equity markets opened sharply higher on Friday despite mixed global cues, with benchmark indices Sensex and Nifty gaining nearly 1 per cent in early trade. Strong buying in IT, metal, pharmaceutical, and chemical stocks helped lift investor sentiment, while broader markets also traded in positive territory.

The rally came as Asian markets posted gains, even though Wall Street ended lower overnight amid weakness in technology stocks.

Sensex and Nifty Post Strong Opening

The BSE Sensex opened at 78,152.34, rising about 650 points or 0.84 per cent.

Meanwhile, the NSE Nifty 50 climbed nearly 200 points, or 0.83 per cent, to open at 24,375.65.

The positive start reflected strong investor buying across several key sectors.

IT and Metal Stocks Lead the Gains

Technology shares emerged as the top performers during early trading.

The Nifty IT Index surged nearly 2 per cent, making it the best-performing sector.

Metal stocks also witnessed strong buying, with the Nifty Metal Index advancing 1.66 per cent.

Other sectors posting gains included:

• Nifty MidSmall IT & Telecom – up over 1 per cent
• Nifty Chemicals – gained 0.82 per cent
• Nifty Pharma – rose 0.72 per cent

The broad-based buying indicated positive market sentiment across multiple industries.

PSU Banks Under Pressure

While most sectors traded higher, public sector banking stocks underperformed.

The Nifty PSU Bank Index declined 0.87 per cent, making it one of the few sectors in negative territory during early trade.

Among the Nifty 50 companies, the biggest early losers included:

• Tata Motors Passenger Vehicles (TMPV)
• NTPC
• State Bank of India (SBI)
• Axis Bank

Broader Markets Stay Positive

The broader market also remained firm alongside the benchmark indices.

Key indices recorded the following gains:

• Nifty Smallcap 50 – up 0.48 per cent
• Nifty Smallcap 100 – gained 0.46 per cent
• Nifty 100 – advanced 0.46 per cent
• Nifty 500 – rose 0.41 per cent

The positive movement suggests buying interest across both large-cap and smaller companies.

Market Volatility Declines

Investor confidence was also reflected in lower market volatility.

The India VIX, often referred to as the market's fear gauge, fell 1.62 per cent to 12.09, indicating relatively stable market expectations.

Oil Prices Move Higher

Global crude oil prices edged higher during early trading.

• Brent Crude rose 0.77 per cent to $72.36 per barrel.
• West Texas Intermediate (WTI) gained 0.68 per cent, remaining below $70 per barrel.

Oil prices continue to influence market sentiment, particularly for energy and transportation sectors.

Asian Markets Outperform Despite Wall Street Weakness

Most major Asian stock markets traded higher on Friday.

Strong gains were seen in:

• Japan's Nikkei
• Hong Kong's Hang Seng
• South Korea's KOSPI

Some Asian indices climbed by as much as 3 per cent.

Meanwhile, U.S. markets closed lower overnight due to weakness in technology stocks.

The Nasdaq fell 0.80 per cent, while the S&P 500 ended the session largely unchanged.

Investors will continue monitoring global market trends, corporate earnings, economic data, and commodity prices for further direction in the coming sessions.