Mumbai, October 30 (TNA) Indian equity benchmarks opened cautiously on Friday after a powerful rally in the previous session, with investors tracking global weakness, elevated crude-oil prices and corporate earnings.
The market was expected to see a muted start, with GIFT Nifty signalling limited movement around the 23,000 level ahead of the opening bell. The regular equity trading session on the NSE and BSE began at 9:15 a.m. IST, following the pre-open session.
Previous Session Sets Positive Tone
On Thursday, the Sensex surged 905.01 points, or 1.24%, to close at 74,151.04. The Nifty 50 gained 237.90 points, or 1.05%, and settled at 22,936.75. The rally was supported by broad-based buying in information technology, FMCG and banking stocks, while most sectors participated in the recovery. The strong performance followed investor optimism after the US Federal Reserve kept interest rates unchanged.
Global Cues Weigh
Despite the positive domestic momentum, Asian markets opened under pressure on Friday, while Brent crude traded above $116 a barrel. Higher oil prices could weigh on India’s import bill and corporate margins, keeping investors cautious.
Technology stocks also remained in focus after weakness in global technology shares. Investors are watching quarterly earnings, foreign-investor activity and movements in the rupee for further direction.
Earnings in Focus
Market participants are expected to track results from major companies and sector-specific developments during the session. Analysts said the benchmarks could remain volatile after Thursday’s sharp gains, particularly as investors assess whether the rally can broaden beyond index-heavy stocks.
The next major levels for traders are expected to remain around 23,000 on the Nifty and 74,000 on the Sensex, with market direction likely to depend on global cues, crude prices and fresh institutional flows. This is a market report, not investment advice.