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The Indian stock market opened with gains for the second consecutive trading session on Friday. After closing at 77,537.72 points on Thursday, the Sensex opened nearly 163 points higher at 77,701.07 points on Friday. Nifty opened at 24,284.05 points, above Thursday’s closing level of 24,231.85 points.

However, the initial surge after the market opened did not last long. Both Sensex and Nifty opened in the green, but selling pressure was soon seen. Initially the Sensex rose by about 100 points and then fell by 50 points. Nifty seems to be trading around 24,250.

The market volatility came at a time when both the major indices saw gains in the previous trading session. Investors are now focusing on global market dynamics, crude oil prices and domestic cues.

On Thursday, the Sensex closed at 77,537.72 points. On Friday, it opened by about 163 points at 77,701.07 points. Similarly, Nifty also made a positive start to the day’s trading. Nifty closed at 24,231.85 points on Thursday and opened at 24,284.05 points on Friday.

Sensex saw a gain of about 100 points in early trading, but the market could not maintain that gain. Within no time the pressure on the major indices started increasing.

At around 9:45 am, the Sensex was trading at 77,601.52, up 63.80 points or 0.08 per cent. At the same time, Nifty reached 24,245.70 points with an increase of 13.85 points or 0.06 percent.

In early trading on Friday, out of 30 major Sensex stocks, 21 were trading in advance and 9 in decline.

Sun Pharma and Eternal were among the top stocks rising around 0.73 per cent in early trade. Apart from this, an increase of about 0.46 percent was seen in Kotak Bank, 0.42 percent in Adani Ports, 0.31 percent in Titan and about 0.30 percent in Trent.

Shares of Tech Mahindra, NTPC and Power Grid were also in the green in early trade.

On the other hand, selling pressure was seen in shares of IT and some big companies. There was a decline of about 0.73 percent in Infosys. TCSO was trading down about 0.45 percent. Reliance Industries fell by about 0.45 percent, HCL Tech by 0.39 percent and Axis Bank by 0.12 percent.

Bajaj Finance was also under some pressure. The effect of weakness in IT shares was seen on the total turnover of the market and after the initial rise, volatility in major indices increased.