Noida, Sep 18 (APAC Media): Indian equity benchmarks traded higher on Friday, with the Sensex gaining around 180 points and the Nifty 50 holding above the 23,300 marks, supported by positive global cues and a decline in crude oil prices.
The Nifty 50 was trading around 23,320, up about 0.2%, while the Sensex gained nearly 0.24% to trade around 74,491 during the morning session, according to live market updates. Broader markets also remained firm, with the Nifty SmallCap 100 and Nifty MidCap 100 indices gaining around 1% and 0.5%, respectively.
The recovery in domestic equities came amid improved sentiment across Asian markets. South Korea’s KOSPI, Japan’s Nikkei 225, Hong Kong’s Hang Seng and China’s Shanghai Composite were trading higher, following gains in US equities in the previous session. Technology stocks led the overnight rally on Wall Street, while a pullback in US Treasury yields also supported risk appetite.
Crude oil remained a key factor for Indian investors. Oil prices eased below $104 a barrel on Friday, extending their decline for a third consecutive session. The retreat provided some relief to markets amid continuing geopolitical tensions in the Middle East.
Sectorally, realty and defence stocks were among the early gainers. The Nifty Realty index rose 1.26%, while Nifty Defence gained 1.01%. Pharma, metal and energy stocks also advanced. In contrast, the Nifty IT index declined 1.73%, with TCS, Infosys, HCL Technologies and Tech Mahindra among the major drags.
Among individual stocks, HDFC Bank, ICICI Bank and Larsen & Toubro contributed significantly to the Nifty’s gains. TCS emerged as one of the biggest drags, falling more than 3% in early trade.
Investors also remained focused on corporate developments, including Bharat Electronics’ additional orders worth Rs 648 crore and Bharat Forge’s qualified institutional placement.
Despite Friday’s recovery, Indian equities remained under pressure on a weekly basis, with the market recording its sixth consecutive weekly decline amid concerns over crude prices, global interest rates and geopolitical tensions
–ENDS–
Disclaimer: This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
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