Indian Stock Market Gives Up Early Gains Amid Elevated Oil Prices

The Indian stock market indices opened higher on Friday but quickly gave up their early gains due to elevated crude oil prices and weak overnight cues. The BSE Sensex opened at 77,701.07, more than 160 points above its previous close of 77,537.72.

However, the gap-up opening did not last long as the indices traded lower throughout the day. At the time of reporting, the Sensex had slipped 44.52 points to around 77,493.20, while the Nifty was trading 10.50 points lower at around 24,221.35.

The broader market also remained under pressure, with most indices and sectoral indices trading in the red. Despite this, some metal and private bank stocks managed to stay in positive territory.