Markets open higher on global cues; Sensex up 397 points, Nifty crosses 23,900

New Delhi [India], April 10 (ANI): The domestic equity benchmarks started Friday's session on a positive note, supported by strong global cues and upbeat earnings from the technology sector. This recovery followed a volatile previous session where indices faced significant selling pressure.
The Sensex stood at 77,028.67 points, an increase of 397.02 points or 0.52 per cent, at 9:16 am. Simultaneously, the NSE Nifty50 stood at 23,909.45 points, up by 134.35 points or 0.57 per cent. The opening gains reflected a broader trend seen across international markets, particularly in the United States and Asia.
Axis Bank stood at 1,342.20, up 23.70 rupees or 1.80 per cent, while ICICI Bank stood at 1,301.50, up by 20.20 rupees or 1.58 per cent.
In the auto sector, Maruti reached 13,684.00, gaining 95.00 rupees, while Mahindra touched 3,204.60, up by 37.80 rupees or 1.19 per cent.
Devarsh Vakil, Head of Prime Research at HDFC Securities, noted the influence of global developments on the domestic opening.
"S&P 500 notched its longest winning streak since October. Major US stock indexes rose as investors reacted positively to a fragile two-week ceasefire and reports of direct negotiations between Israel and Lebanon. The S&P 500 closed above the key 6,800 psychological level, while the Dow Jones turned positive for the 2026 calendar year," Vakil said.
The performance of the Nasdaq also provided a tailwind for Indian IT stocks. The index outperformed other major benchmarks due to gains in mega-cap technology companies. Shares of Amazon climbed over 5 per cent following internal AI chip developments, while Intel and Alphabet rallied on news of an expanded semiconductor partnership for Google Cloud infrastructure. In the domestic market, TCS contributed to the sentiment after reporting a USD revenue growth of 1.2 per cent quarter-on-quarter in constant currency.
"TCS reported USD revenue growth of 1.2% QoQ CC, which was in line with estimates, and the margins expanded by 10bps QoQ to reach 25.3% (best in the last eight quarters). TCS indicated better growth visibility for FY27E, bolstered by healthy deal wins, improving outlook, and strategic investments made over the last two quarters," Vakil said.
Despite the positive start, some underlying pressures remained. "The rupee's five-session rally stalled yesterday, shedding 8 paise to end at 92.66, alongside weakening Asian peers, pressured by higher crude prices and relentless FII outflows." The Nifty had surrendered gains on Thursday, ending 222 points lower at 23,775 due to fresh inflationary worries and concerns over geopolitical conflicts.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, commented on the technical structure of the market following the previous session's volatility.
"The benchmark indices witnessed profit booking at higher levels. The Nifty ended 222 points lower, while the Sensex was down by 931 points. Among sectors, banking and financial services stocks registered profit booking at higher levels, whereas, despite weak market sentiment, the Defence and Capital Market indices outperformed, rallying over 1.50%," Chouhan said.
"Technically, after a muted open, the market consistently faced selling pressure at higher levels. Additionally, on daily charts, it has formed a small bearish candle, which supports further weakness from the current levels. However, the short-term texture of the market is still positive," Chouhan added.
Chouhan identified immediate support for the Nifty around the 23,500 level, while resistance was placed at 24,000 and 24,200. (ANI)

(This article was generated from news agency ANI without modifications to the text.)