Sensex slips but Nifty gains 75 points by closing as easing crude offers relief

However, persistent foreign institutional investor (FII) outflows and elevated dollar levels remained key concerns for investors.

The Nifty 50 index closed at 23,346.40, with a gain of 75.80 points or 0.33 per cent, while the BSE SENSEX closed at 74,294.96, with a dip of -19.63 points or -0.03 per cent.

Market sentiment remained cautious as investors continued to track global cues, crude oil prices and institutional flows.

Vikram Kasat, Chief Business Officer Advisory and Dealing at PL Capital, said Indian benchmark indices traded on a firm note on Friday, recovering past losses, supported by positive global cues and lower-level buying across domestic equities.

Easing crude oil prices provided some relief, though persistent foreign institutional investor (FII) outflows and elevated dollar levels remain key monitorables, Kasat said.

He added that market sentiment is expected to remain guarded and range-bound as investors assess global monetary policy stances, international crude movements and ongoing institutional flow trends, while leaning towards quality stocks with resilient fundamentals.

Among sectoral indices on the NSE, Nifty Realty was the biggest gainer, rising 1.64 per cent. Nifty Media surged 1.38 per cent, while Nifty Metal gained 1.24 per cent.

Nifty Auto rose 0.55 per cent, Nifty Pharma gained 0.54 per cent and Nifty PSU Bank also increased 0.54 per cent. Nifty FMCG gained 0.20 per cent.

The only sectoral index to close in the red was Nifty IT, which lost 1.73 per cent.

Crude oil prices continued to decline on Friday. Brent crude oil prices were down 1.39 per cent at USD 103.31 per barrel at the time of reporting. Despite the recent decline, crude oil prices remain elevated over the longer term.

The movement in crude prices remains an important monitorable for Indian markets, as investors continue to assess its impact on inflation and the broader economic environment.

Meanwhile, gold prices were trading higher on Friday at Rs 1,53,960 per 10 grams for 24 karats. Silver prices also surged 1.53 per cent to Rs 2,41,898 per kg at the time of reporting.

Asian markets also traded on a positive note, with major indices ending higher. Japans Nikkei 225 index closed at 65,051, surging 1.41 per cent. Hong Kongs Hang Seng index gained 0.53 per cent to close at 24,736. South Koreas KOSPI index also gained 2.59 per cent to close at 6,894, while Taiwans Weighted Index rose 1.89 per cent to close at 47,180.75.

Going forward, investors are likely to keep a close watch on crude oil movements, FII flows, the dollar and global monetary policy developments as they assess the direction of domestic equities. (ANI)