Mumbai, January 9 – After four consecutive sessions of decline, the Indian stock market opened in the green on the last trading day of the week, Friday. Key market benchmarks showed gains during early trade.
Following a flat start, the 30-share BSE Sensex rose by 176 points or 0.21 percent to trade at 84,357 levels at the time of reporting. Meanwhile, the Nifty index gained 46 points or 0.18 percent to reach 25,923.
Among broader indices, the Nifty Midcap index increased by 0.24 percent, while the Nifty Smallcap index declined by 0.44 percent.
Sector-wise, the Nifty IT and Nifty PSU Bank indices advanced by 0.5 percent each. In contrast, the Nifty Pharma and Realty indices saw declines of around 0.4 percent.
Top gainers in the Sensex pack included Eternal, HCL Tech, BEL, Asian Paints, Tech Mahindra, Power Grid, Infosys, and Bajaj Finance, registering increases between 0.5 and 2.7 percent.
On the other hand, TMPV, ICICI Bank, NTPC, Sun Pharma, Tata Steel, and Trent were among the top losers, with share prices falling up to 1 percent.
Akash Shah, Technical Research Analyst at Choice Broking, stated that the market direction in today’s session is expected to depend significantly on global stock market trends, crude oil price fluctuations, and institutional investor fund flows.
In the previous session, the Nifty opened weak and remained under pressure throughout the day, closing below the psychological 26,000 level. This reflects a cautious market sentiment and a lack of fresh bullish signals. The 25,700 to 25,750 range is considered a critical support zone for Nifty. On the upside, sustaining levels above 26,000 to 26,050 is necessary to prevent further declines. Additionally, the 26,150 to 26,200 range acts as an immediate resistance.
The analyst added that Bank Nifty also mirrored the market weakness, experiencing a decline due to selling in major banking stocks. For Bank Nifty, the 59,300 to 59,400 zone serves as an important support area to curb further falls. On the upside, the 59,900 to 60,000 range is a strong resistance, and only a decisive break above this can stabilize the upward momentum.
Given ongoing global uncertainties, investors and traders are advised to remain selective and disciplined, focusing on fundamentally strong stocks during market downturns. New long positions in Nifty should be considered only after a clear and sustainable breakout above the 26,400 level.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.