Indian equity markets began Friday in a robust fashion, driven by upbeat global indications and hopes on the U.S. tariff relief. The Nifty 50 index opened at 1.32% higher, crossing 22,700, while the Nifty Pharma index jumped 3.2%, spearheading sectoral advancements.
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Nifty 50 Performance: The market-leading Nifty 50 began at 22,700, up more than 1.32%, supported by heavy buying interest across all sectors, specifically pharmaceuticals and FMCG.
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Pharma Segment Outshines: The Nifty Pharma index was the top performer, rallying 3.2% in early trade. Shares of Sun Pharma, Cipla, and Dr. Reddy's Laboratories spearheaded the upsurge, buoyed by the easing of U.S. tariff concerns over drug exports.
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Worldwide Boost: Gains in sentiment due to a 90-day tariff hiatus announced by U.S. President Donald Trump have enhanced market expectations worldwide, with Indian markets gaining from decreasing trade uncertainty.
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Market Breadth Strength: Besides Nifty Pharma, other indices such as Nifty FMCG and Nifty Auto also moved up, indicating a broad-based buying interest.
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Technical Perspective: Experts anticipate Nifty to encounter resistance in the 23,200–23,400 range while support is found at 22,250–22,000 levels. Breaking above resistance may further escalate bullish momentum.
Day's Outlook
With robust sectoral performance and worldwide optimism fueling gains, Indian markets are looking to have a strong day. Pharma stocks will likely remain in the limelight as investors ride on softening trade tensions and solid quarterly numbers.
Source: MoneyControl, CNBC TV18, Economic Times