Indian shares opened on a positive note Friday, brushing aside weak global cues as domestic earnings results and an anticipated index rebalancing captured investor attention.
The benchmark BSE Sensex climbed 625 points, or 0.8 percent, to reach 77,812 in early trade, signaling broad-based confidence among market participants.
The wider NSE Nifty index followed suit, surging 162 points, or 0.7 percent, to 24,235 as buying activity picked up across multiple sectors.
Investors are betting that an upcoming MSCI index rebalancing, expected to add up to 12 stocks, could trigger approximately $2.3 billion in passive investment inflows into Indian equities.
Reliance Industries advanced 1.4 percent and JSW Steel added 0.7 percent, with both companies set to report their first-quarter earnings results later in the session.
Jio Financial Services was among the session’s standout performers, surging 3.6 percent after reporting a 156 percent year-on-year jump in first-quarter consolidated net profit.
Tech Mahindra rallied 2.7 percent following a strong quarterly showing, with consolidated profit rising 28.4 percent year-on-year, reinforcing optimism in the IT sector.
Wipro bucked the trend, falling more than 2 percent after its first-quarter results and guidance for the September quarter disappointed market expectations.
PhysicsWallah slid 3.5 percent after the company took majority control of civil services coaching platform Sarrthi IAS, raising concerns among investors about strategic direction.
Ceat was the session’s sharpest decliner, plummeting 8.4 percent after first-quarter profit collapsed 96.4 percent year-on-year, weighed down by foreign exchange losses and rising input costs.
The mixed earnings picture underscores the diverging fortunes across Indian industries, with financial services and technology outperforming while consumer-facing and materials firms face mounting cost pressures.
Market participants will continue to monitor corporate results closely through the remainder of the earnings season, alongside any developments related to the MSCI rebalancing timeline.
