Sensex, Nifty open higher on hopes of India–US trade deal
2 min read
Indian equities began Friday’s trading session on a firm footing, tracking an upward trend in global markets fueled by renewed optimism about a potential US-India trade agreement.
Market sentiment received an additional boost following Thursday’s conversation between Prime Minister Narendra Modi and US President Donald Trump, where both leaders explored avenues to strengthen economic cooperation as trade negotiations advance.
At market open, the Sensex surged 391 points (0.46%) to reach 85,209, while the Nifty climbed 112 points (0.43%) to 26,010.
Market technicians highlighted key support and resistance levels, noting immediate downside support near 25,750–25,800 with stronger support at 25,500. “Resistance is anticipated around 26,000–26,050. Should the index sustain above 26,050, it could potentially trigger additional buying momentum targeting 26,300,” market specialists commented.
Key contributors to the market’s upward movement included L&T, Hindalco, Tata Steel, Ultratech Cement, Adani Ports, Bajaj Finance, BEL, NTPC, Axis Bank, Maruti Suzuki India, and Power Grid. Conversely, Wipro, Sun Pharma, HDFC Life, HUL, Eicher Motors, Infosys, and Tech Mahindra faced selling pressure.
Broader market indices mirrored the bullish trend, with the Nifty MidCap rising 0.42% and the Nifty SmallCap gaining 0.54%. Sectorally, the Nifty Metal index outperformed with a 1.44% jump, followed by advances in Realty, Media, Private Banking, and Financial Services sectors. The Nifty FMCG index stood alone in negative territory.
Traders noted the optimistic market atmosphere, attributing it to favorable global conditions and progress in India-US trade discussions. December saw Foreign Institutional Investors offload ₹14,845 crore worth of equities, though this outflow was fully offset by Domestic Institutional Investors purchasing ₹36,097 crore during the same period.
(With inputs from IANS)
About Author
