Infosys rises over 1%; auto stocks lead broad market gains

/ 2 min read
Summary

Indian equity benchmarks were trading with modest gains, reflecting a positive yet cautious market sentiment.

The NIFTY 50 index was at 25,073, registering an increase of 68 points, or 0.27%, from its previous close of 25,005.
The NIFTY 50 index was at 25,073, registering an increase of 68 points, or 0.27%, from its previous close of 25,005. | Credits: Shutterstock

Infosys Ltd shares opened higher on Friday, rising around 1.34% to trade at ₹1,529 as of 10 AM IST. The stock, which had closed at ₹1,509 in the previous session, touched an intraday high of ₹1,543 and a low of ₹1,523 in early trade. With a market capitalisation of ₹6.34 lakh crore and a price-to-earnings ratio of 23.29, Infosys continues to draw investor attention amid fluctuations, while offering a dividend yield of 2.81%.

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Besides, among the top 500 Nifty companies, the biggest gainers included JBM Auto, HFCL Ltd., BEML, FirstCry, Railtel, and Samvardhana Motherson.

However, Indian equity benchmarks were trading with modest gains, reflecting a positive yet cautious market sentiment. The NIFTY 50 index was at 25,073, registering an increase of 68 points, or 0.27%, from its previous close of 25,005. Similarly, the BSE SENSEX mirrored this upward trend, climbing to 81,770, a gain of 222 points, which also equates to a 0.27% rise from its last closing figure of 81,548.

Both indices are moving in lockstep, indicating broad-based buying across the market. The intraday charts for both indices suggest a stable opening with prices hovering near the day's highs. This marginal upward movement suggests a cautiously optimistic start for the Indian market, likely influenced by a combination of global cues and domestic factors.

Ponmudi R, CEO of Enrich Money, said, "The Nifty 50, hovering in the 25,050–25,100 range, reflects a neutral to mildly bullish undertone. Buying support at 24,951 is cushioning downside risks, while call-heavy resistance between 25,072–25,200 continues to cap the upside. However, the Put-Call Ratio at 0.59 indicates a certain degree of nervousness in the market, suggesting cautious positioning by traders despite the index’s resilience. A decisive breakout above 25,072 could unlock momentum toward 25,400, while a breach below 24,900 may drag the index down to 24,750."

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Investors will be watching the market's trajectory throughout the trading session to see if this early positivity holds.

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