Stock Market Opening Bell: Sensex Surges Over 500 Pts, Nifty Above 23,800; Nifty Defence Climbs Above 1.41%

Market Opening Bell: The Indian benchmark stock market indices, Sensex and Nifty 50 rang in green in Friday's trading session, after Gift Nifty signalled a positive start. 

The Gift Nifty was trading around 23,942 level, a premium of nearly 81 points from the Nifty futures’ previous close.

On Thursday, the Indian stock market crashed amid fading hopes that the US-Iran ceasefire will last longer, with the benchmark Nifty 50 closing below 23,800 level.

The Sensex plunged 931.25 points, or 1.20%, to close at 76,631.65, while the Nifty 50 settled 222.25 points, or 0.93%, lower at 23,775.10.

Nearly, 1919 shares advanced, 378 shares declined, and 123 shares unchanged.

Wipro, Shriram Finance, Axis Bank, Eicher Motors, Interglobe Aviation were among major gainers on the Nifty, while losers were Sun Pharma, TCS, Infosys, Tech Mahindra, HCL Technologies.

On the other hand, the top losers included Bajaj Auto, Sun Pharmaceutical, Infosys, HCL Tech, TCS and Adani ports. 

The top sectoral index gainers were Nifty Defence, and Nifty Capital Markets among others. Meanwhile, the Nifty IT index was over 1.55% lower at 31,147 level. 

The rupee today opened 10 paise higher against US dollar at 92.57 after closing its last session at 92.66. Friday, April 10, is the final day for banks to unwind their excessive positions in the offshore non-deliverable forwards (NDF) markets. This comes after RBI's cap on banks' net open position in the rupee, which must be within $100 million at the end of each business day.