Equity benchmark indices recovered from early losses on Friday, lifted by improved global sentiment and buying interest in heavyweight stocks.
After slipping at the open, the Sensex bounced back by around 250 points from the day’s low to trade at 84,712.79.
The Nifty also regained momentum and moved above the 25,850 mark, trading at 25,872.25.
Analysts noted that the uptrend was supported by firm cues from Asian markets.
Key indices such as South Korea’s Kospi and Japan’s Nikkei 225 registered gains, while futures on Wall Street indicated a positive opening.
Market analysts observed that although global markets showed mixed trends following an overnight decline in US indices, investors remained cautiously optimistic as they awaited further economic data and clarity on the Federal Reserve’s policy outlook.
Domestic sentiment also improved as crude oil prices eased. Brent crude, the global benchmark, fell 0.65 per cent to USD 64.58 a barrel, a development that typically benefits Indian equities by lowering import costs and reducing inflation concerns.
The Indian rupee traded mildly higher, gaining 5 paise to 88.64 against the US dollar in early trade.
Forex dealers attributed the rise to softer crude prices and a weaker dollar. However, ongoing foreign fund outflows and intermittent selling pressure in equities limited further appreciation.
From a technical standpoint, market strategists observed that the Nifty, which initially appeared to be forming a bullish continuation pattern, now seems to be moving toward a possible topping formation.
Analysts pointed out that the index’s decline in the previous session tested a key downside level around 25,886, suggesting underlying bearish tendencies.
While early intraday gains were expected, they were likely to face resistance around the 25,960 level.
A sustained move beyond that point could delay or avert further declines toward the 25,700–25,400 zone, though such a sharp upward breakout was considered less probable.
Overall, the market staged a cautious recovery, supported by favorable global movements and relief from falling crude prices, even as technical indicators hinted at potential volatility ahead.
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