Sensex, Nifty open higher as sentiments improve; Bajaj Finserv jumps 2%

Benchmark stock market indices opened higher on Friday, supported by a rally in energy stocks and an improvement in overall sentiment.

The S&P BSE Sensex rose 0.33 per cent to 66,481.18 at around 9:30 am, while the NSE Nifty50 gained 59 points to 19,786.05. Broader markets continued to outperform the benchmark indices.

Among sectoral indices, Nifty Realty, Nifty Auto, Nifty Consumer Durables and Nifty Oil & Gas were the top gainers. All the major sectoral indices started off the trading session in positive territory.

The top 5 gainers on the Nifty50 were Larsen and Toubro, Bajaj Finserv, NTPC, Bharti Airtel and Maruti. On the other hand, the top drags were Coal India, Hindalco, SBI Life, Eicher Motors and Apollo Hospitals.

Despite the weak momentum due to global cues, domestic shares have managed to extend their winning streak this week.

Several individual stocks are likely to be in focus today, including L&T, ONGC, Gail, HCLTech, Coachin Shipyards, Shemaroo Entertainment, Exide Industries and more.

Deven Mehata, research analyst at Choice Broking, said, “Notably, the daily charts depict the formation of a robust, long bullish candlestick pattern, and this achievement is underscored by the index's ability to firmly maintain its position above the previously declining resistance trend line.”

“This development carries significant weight as it signifies a pivotal milestone. For the first time in three weeks, the Nifty has successfully reclaimed this crucial level. Additionally, the Relative Strength Index (RSI) has shown a positive crossover, currently registering at 63, which emphasizes a moderately bullish sentiment prevailing in the market,” he added.