Markets Open Trading In Green, Sensex Above 81,900, Nifty Over 25k
Stock Market Today: In the pre-open session, the Sensex tested 81,900 after climbing over 100 points, while the Nifty also traded near 25,100.
The Indian markets looked set to recover from yesterday's losses. Both benchmarks rang the opening bell today in green. The BSE Sensex started the day over 81,800, while the NSE Nifty50 inched up close to 30 points and traded above 25,050. In the pre-open session, the Sensex tested 81,900 after climbing over 100 points, while the Nifty also traded near 25,100.
On the 30-share Sensex, Tata Steel, Sun Pharma, Eternal, HCL Tech, and M&M stood among the gainers. Meanwhile, the laggards included PowerGrid, Bajaj Finance, NTPC, Tata Motors, and Bajaj Finserv.
In the broader markets, the Nifty Midcap Select climbed 0.40 per cent. Sectorally, the Financial Services Ex-Bank index slipped 0.15 per cent. On the other hand, the Pharma and Metal indices jumped 1.23 per cent and 1.19 per cent respectively.
Analysts noted that the Nifty could extend its upward move if it sustains above the 25,150 level, paving the way for a potential rise towards the 25,200–25,250 range. “From a technical standpoint for Nifty, a sustained move above 25,150 could open the door for an upside toward 25,200–25,250,” analysts said. On the flip side, they highlighted that support remains firm near 24,950–24,900, which could act as an accumulation zone for traders seeking long positions. “Overall, the index is expected to remain range-bound between 24,900 and 25,200 in the near term,” they added.
Institutional activity continued to support the market, as Foreign Institutional Investors (FIIs) net purchased equities worth Rs 81 crore on October 8, marking their second straight session of buying. Domestic Institutional Investors (DIIs) were also net buyers, adding Rs 329 crore worth of shares on the same day.
Across Asia, equity benchmarks advanced after Wall Street’s strong performance overnight, where both the S&P 500 and Nasdaq Composite achieved record closing highs. Market optimism also improved following geopolitical developments, after US President Donald Trump announced that Israel and Hamas had agreed on the first phase of a US-brokered peace plan. The move aims to pause hostilities in Gaza and facilitate the release of hostages and prisoners, easing some of the global risk aversion seen in recent weeks.
Experts said that traders are maintaining a cautiously optimistic stance, keeping a close watch on global cues and the evolving geopolitical situation. “The results season starting today will be keenly watched by the market. IT stocks have witnessed some recovery from the bottom, but the headwinds for the segment continue to be strong,” market experts said.
Notably, the benchmark indices, settled lower on Wednesday, ending a four-day winning streak, as selling pressure in heavyweight stocks like Reliance Industries and HDFC Bank led the decline. The Sensex fell by 153.09 points, or 0.19 per cent, closing at 81,773.66. Similarly, the Nifty dropped 62.15 points, or 0.25%, to finish at 25,046.15. Analysts attributed the downturn to profit-taking in sectors like automobiles, real estate, and banking.
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