Indian benchmark indices opened almost flat on Friday, November 6, defying a sharp overnight sell-off on Wall Street and a rout across Asian markets, ANI reported. The NSE Nifty 50 opened at 24,538.20, up just 1.60 points or 0.01 per cent, while the BSE Sensex opened at 79,413.66, up 103.65 points or 0.13 per cent.

Source: ANI via ChiniMandi

Trade turned choppy in the first minutes. By 9:18 am IST the Sensex was trading at 79,349.62, up a marginal 39.61 points or 0.05 per cent, while the Nifty had slipped to 24,484.95, down 51.65 points or 0.21 per cent, The Hindu BusinessLine reported, noting that sustained foreign fund buying offered some support.

Source: The Hindu BusinessLine

79,413.66Sensex opening level on November 6
24,538.20Nifty 50 opening level on November 6
-5.52%Nasdaq fall overnight on Wall Street
+600 ptsSensex morning recovery by 9:51 am IST (Upstox)

The indices then staged a recovery as information technology stocks powered ahead. By 9:51 am IST the Sensex had surged more than 600 points, or 0.76 per cent, to trade around 79,911, while the Nifty was up 0.48 per cent at 24,655, Upstox reported, with TCS, Infosys and other IT stocks leading the gains as investors bought Indian IT names amid the AI sell-off abroad.

Source: Upstox

The global backdrop remained severe. Overnight, the Nasdaq plunged 5.52 per cent, the S&P 500 fell 4.36 per cent and the Dow Jones lost 3.45 per cent, while Japan's Nikkei fell 5.27 per cent and South Korea's Kospi dropped 3.85 per cent on Friday morning, HDFC Sky reported. In Mumbai, broader markets stayed weaker, with the Nifty Midcap 100 down about 1.17 per cent and the Smallcap 100 down 1.67 per cent, and Brent crude traded near $99.91 a barrel.

Source: HDFC Sky

On Thursday, November 5, the Sensex had closed 2,009 points higher at 79,310.01 and the Nifty at 24,536.60 after a powerful rally. Morning levels change quickly, and Friday's early recovery does not guarantee where the indices will close.