Indian stocks opened flat but in the green on Friday as the market deals with higher crude oil prices and jump in IT stocks.
Based on the first readings at 9:34am, Sensex was up 138.77 points to 74,289.81 in early trade, while Nifty advanced 38.95 points to 22,967.10.
Friday’s opening also come ahead of the quarterly earnings of heavyweights Reliance Industries and Sun Pharma.
Meanwhile, the IT index gained 1.8%, amid a drop in global artificial intelligence-linked stocks in Asia.
Both Sensex and Nifty benchmarks gained over 1% each in the previous session, after strong quarterly results from key constituents and as the US Federal Reserve held interest rates steady as expected.
Elevated crude oil prices continue to be a key concern for investors, with Brent crude trading above $117 per barrel. Further reports suggest that the US could resume military strikes against Iran after the November 3 mid-term elections, which have added to geopolitical uncertainty.