Indian equity markets opened Friday’s trading session on a buoyant note, lifted by robust foreign fund inflows and a strong overnight performance on Wall Street. The benchmark BSE Sensex gained 229.22 points to touch 83,985.09 in early deals, extending its upward march for the fourth consecutive session. The broader NSE Nifty advanced 73.5 points to 25,622.50, signalling positive investor sentiment.
The rally was supported by renewed interest from Foreign Institutional Investors (FIIs), who collectively purchased equities worth ₹12,594.38 crore on Thursday, according to provisional data released by the exchanges.
Among the major gainers in the Sensex basket were Larsen & Toubro, Tata Steel, State Bank of India, Tata Motors, HCL Tech, and Bharat Electronics, stocks that collectively pushed the index higher. However, Bajaj Finserv, HDFC Bank, Bajaj Finance, and Kotak Mahindra Bank witnessed some selling pressure and traded in the red.
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Thursday’s rally, in which the Sensex had surged by over 1,000 points and the Nifty by more than 300, provided further momentum to Friday’s early gains, traders said.
Meanwhile, in a policy signal aimed at banks, the Reserve Bank of India, in an article published in its June Bulletin, has urged all lenders to lower their lending rates. The move is intended to expedite the transmission of its 50-basis-point rate cut earlier this month.
The RBI said, “Financial conditions remain conducive to facilitating an efficient transmission of rate cuts.” The central bank's observations are likely to influence lending practices in the coming weeks, especially if liquidity conditions remain supportive.
Asian markets displayed a mixed trend. While Japan’s Nikkei 225 traded in positive territory, indices in South Korea, Hong Kong, and China were quoting lower during early hours. US markets closed higher on Thursday, offering a favourable lead for Indian equities.
In commodities, Brent crude, the global oil benchmark, climbed 0.49 per cent to trade at USD 68.06 per barrel, signalling potential cost pressures ahead for energy-importing economies.
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