Stock Market: Nifty, Sensex Open Higher; Eternal Under Pressure After Q4; RIL, HDFC Rally

Stock Market Today: The Indian stock market opened flat on Friday, carrying forward the cautious sentiment reflected in the last trading session. Nifty and Sensex's muted start to the trading session was supported by the strong movement of large cap stocks like Reliance Industries Limited and HDFC.

Many stocks were trading in red after the announcement of their Q4 results including Eternal. Adani Ports shares were trading in green. The Nifty Bank opened on a flat note. Whereas, IT sector stocks including HCL Tech, Infosys, etc were trading in green.

Stock Market Opening Today

Nifty 50 opened 85 points higher at 24419 points, whereas BSE Sensex was trading 382 points higher at 80624 points. Nifty Midcap 100 was trading 54163 points and Nifty Bank was up nominally higher at 55327 points during the stock market opening today.

The Indian stock market opening has come hours after Gift Nifty indicated a muted start to the stock market. Nearly all broad market indices, including midcap and large cap, were trading in green. However, small-cap indices were trading under pressure. T

Stock Market Precap

The Indian benchmark indices ended flat on Wednesday as investors remained cautious due to escalating geopolitical tensions with Pakistan. Apart from apprehensions about the future course of India-Pakistan tensions, there is optimism over progress in US trade negotiations.

"Market sentiment remains cautious due to the ongoing India-Pakistan geo-political concerns. Both FIIs and DIIs have been net buyers since the last three days, contributing inflows of over Rs7500 crore each. Broader market witnessed selling pressure, with Nifty Midcap100 and Smallcap100 declining by 0.8% and 1.5% respectively. On the sectoral front, Nifty Realty index jumped 2.4% ahead of quarterly results from some of the sector majors this week," noted Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Commenting on the Indian stock market opening, Khemka said, " We expect the market to trade in a range-bound manner with stock/sector specific action, driven by Q4 earnings announcements. Key results on Thursday include Adani Enterprise, Adani Ports, Eternal, Home First Finance, while Marico, IOB, Godrej Properties amongst others report their results on Friday."

Global Stock Market Today

Indian stock market's positive opening has followed the US stock market recovery and the positive sentiment prevailing over the Asian stock market indices on Friday.

US Stock Market Recovered On Thursday

Nasdaq and other US stock market indices are regaining momentum. Nasdaq closed +1.52% higher on Thrusday. Whereas, S&P 500 ended the trading session +0.63% higher. Dow Jones Industrial Average reflected similar positive sentiment on Thursday and closed 83 points higher.

Asian Stock Market Today

Asian stock market today showcased a mixed signal during the Friday session. Nikkei 225 opened on a strong note and was trading at 36832. The Hang Seng index was also trading 1.28% higher on Friday. However, SSE Composite Index was trading in red.