Indian Stocks Surge Amid Global Rally and Easing Oil Prices
The Indian stock market saw a boost on Friday as global equity indices rallied and crude oil prices eased. The Sensex rose by 162.87 points to 74,483.56 in early trade, while the Nifty gained 43.90 points to 23,315.25.
Bharti Airtel, Eternal, Larsen & Toubro, InterGlobe Aviation, HDFC Bank, and Adani Ports were among the top gainers, while Tata Consultancy Services, Tech Mahindra, Tata Steel, HCL Tech, and Infosys lagged behind.
The Brent crude price fell 0.93% to $103.8 per barrel. Asian markets, including South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index, were also trading in positive territory.
Rajesh Palviya, Head of Research at Axis Direct, noted that global cues have turned more supportive, with Wall Street rebounding sharply from the previous session's Fed-driven selloff. However, he cautioned that the Federal Reserve's hawkish stance and the possibility of further tightening continue to keep global sentiment cautious.