Sensex, Nifty Open Marginally Higher To End Losing Streak

Indian benchmark indices opened slightly higher on Friday after breaking their recent losing streak in the previous session. However, gains remained limited as elevated crude oil prices and renewed pressure in global bond markets kept investors cautious.

The Sensex opened 150 points higher while Nifty opened 50 points up. However both the indices shed most of the gains soon. At around 10:30 am, Sensex was just 52 points higher while Nifty was trading with a gain of 13 points.

Crude oil, bond yields remain key concerns

Brent crude was trading at $93.52 a barrel, while WTI crude stood at $86.44. Although both benchmarks eased slightly during early trade, prices remained high enough to keep concerns about inflation and corporate profitability alive.

Geojit Investments Chief Investment Strategist Dr V K Vijayakumar said the recent recovery could face resistance as Brent approaches $94 a barrel and US Treasury yields rise. He also cautioned that profit-taking in large-cap stocks could restrict the market's ability to sustain its upward momentum.

Among Sensex constituents, Kotak Mahindra Bank led the gainers with a 1.52% rise. BEL advanced 1.08%, while Tata Steel, SBI, HDFC Bank and ICICI Bank also traded higher.

IndiGo was the biggest laggard, falling 1.17%, followed by Titan and Hindustan Unilever.

Metals, banks and realty outperform

Sectoral performance remained mixed. Nifty Metal gained 0.80%, while Nifty Private Bank and Nifty Realty rose 0.69% and 0.68%, respectively. PSU banks and financial services also remained in positive territory.

In contrast, Nifty IT declined 0.64%, while FMCG, Auto, Healthcare and Pharma indices also traded lower.

The broader market showed relative resilience, with the Nifty Smallcap 100 rising 0.77%. The Nifty 500 edged up 0.03%, while midcap indices remained under pressure. India VIX, however, climbed 4.69% to 11.26, signalling greater market caution.