Indian equity markets opened higher on Friday, supported by positive global cues. The BSE Sensex surged by 169 points (0.22%) to reach 77,325 at the opening bell, while the Nifty 50 advanced by 40 points (0.17%) to 23,390. As trading progressed, the Sensex extended gains, climbing over 300 points to cross 77,450, with the Nifty scaling 23,450.
Market Highlights:
In broader markets, the Nifty Midcap 100 rose by 0.62%, and the Nifty Smallcap 100 gained 0.71%. Market volatility, measured by India VIX, dropped by 2.20%, indicating improved investor sentiment.
Adani Group in Focus:
Investors are closely monitoring Adani Group stocks following allegations of bribery and fraud by U.S. prosecutors against the group’s chairman, Gautam Adani, and others. Adani Energy Solutions fell 5%, while Adani Green Energy extended losses by 6%.
Global Markets:
Asian markets followed Wall Street’s overnight rally, with Japan’s Nikkei 225 (+0.78%), Australia’s S&P/ASX 200 (+0.92%), and South Korea’s Kospi (+1.12%) leading the gains. In the U.S., major indices closed higher, with the Dow Jones rising 1.06%, the S&P 500 gaining 0.53%, and the Nasdaq edging up 0.03%.
Other Developments:
Despite ongoing challenges such as foreign institutional investor (FII) outflows and the Adani controversy, analysts suggest the market correction remains controlled and sentiment is broadly positive.
