Indian Stock Markets Gain Amid Cautious Optimism; Sectors in Focus

Indian stock markets opened with gains on Friday, influenced by other Asian markets. Experts stress cautious optimism due to upcoming Maharashtra election results and international tensions. The Adani group's issues continue to affect market dynamics. Nifty Bank showed significant gains, while mixed results were observed in other global markets.

On Friday, Indian stock markets surged as the Nifty 50 index commenced trading at 23,411.80 points, marking an increase of 61.90 points or 0.27 percent. Similarly, the BSE Sensex index opened with a gain of 193.95 points to reach 77,349.74 points.

Experts cautioned that markets remain vigilant as all eyes turn towards the Maharashtra election results expected over the weekend. Recent selling by Foreign Institutional Investors (FIIs) was notably high, primarily driven by pressure on Adani group stocks. Banking and market expert, Ajay Bagga, noted the delicate balance of mixed global and domestic cues, influencing cautious market movements.

The Adani group continues to face challenges after US prosecutors charged key figures in an alleged bribery case. Consequently, Adani Green saw more than an 8 percent decline. Meanwhile, broader sectoral indices displayed varied performances, with Nifty Bank leading with a 0.65 percent gain. Despite global market fluctuations, investors focus on key technical indicators that hint at potential stabilization.

(With inputs from agencies.)