Indian equities staged a smart recovery at the opening bell on Friday, ending a painful week on a high note. The BSE Sensex jumped 250 points to hover around 79,500, while Nifty 50 advanced 70 points past 24,050.
This welcome uptick follows a brutal sell-off that erased over ₹5 lakh crore in market value over the past five days. Weak global cues, rising oil prices, and profit booking had weighed heavily on sentiments.
Buoyed by short-covering and select buying in heavyweights, the market shrugged off overnight Wall Street weakness. Banking and FMCG sectors showed resilience, with HDFC Bank and ITC among top gainers.
‘Technical rebound was overdue after hitting multi-week lows,’ noted a Delhi-based trader. FIIs turned marginal buyers after consistent selling, providing the much-needed fillip.
Yet, volatility remains a concern with key economic releases due next week. Investors are bracing for inflation figures and Q2 GDP data that could dictate the near-term trajectory. Friday’s green open, though encouraging, underscores the market’s fragile recovery path.