Dalal Street Rallies Ahead, Sensex About 400 Points Up, Nifty Ends Near 25,200
Market analysts said positive cues from overseas helped sustain domestic sentiment, even as investors adopted a wait-and-watch approach amid lingering global uncertainties.
- Domestic markets closed higher, with both Sensex and Nifty gaining.
- Positive overseas cues and easing Middle East tensions supported sentiment.
- Foreign investors continued net buying; RBI intervened to support rupee.
The domestic markets settled Thursday's trading with strong gains. The BSE Sensex ended trading near 82,200, soaring close to 400 points, while the NSE Nifty50 rang the closing bell a little over 25,150, jumping more than 100 points.
On the 30-share Sensex, Tata Steel, HCL Tech, UltraTech Cement, BEL, and Sun Pharma stood among the gainers. Meanwhile, the laggards included Axis Bank, Titan, HDFC Bank, Maruti, and Bharti Airtel.
Broader Markets and Sectoral Trends
In the broader markets, the Nifty Midcap50 climbed more than 1 per cent. Sectorally, the Metal index surged 2.17 per cent, followed by the Midsmall Financial Services which gained 1.29 per cent.
“Domestic benchmark indices staged a smart recovery on Thursday, reversing the previous session’s losses, as risk appetite returned across the board. The Nifty-50 concluded the session on a strong note, settling just shy of the 25,200 milestone, underpinned by sustained buying across key sectors,” said Bajaj Broking Research.
Notably, both benchmarks opened today morning on a steady note, climbing slowly as morning trading progressed. At 9:17 AM, the Nifty was at 25,076.70, up 30.55 points or 0.12 per cent, while the Sensex gained 13.07 points, or 0.02 per cent, to trade at 81,786.73.
Market analysts said positive cues from overseas helped sustain domestic sentiment, even as investors adopted a wait-and-watch approach amid lingering global uncertainties. Experts added that early momentum was supported by easing geopolitical tensions in the Middle East and mixed signals from global markets.
Vinod Nair, Head of Research at Geojit Investments Ltd, noted that, “The domestic market showed gains amid Q2 results, while metals indices outperformed, led by an uptick in base metal prices. Despite muted earnings expectations, the IT index moved higher as investors took comfort in attractive valuations, currently below long-term averages.”
Global Markets
Foreign Institutional Investors (FIIs) were net buyers, purchasing equities worth Rs 81.28 crore on Wednesday, as per exchange data.
Across Asia, Japan’s Nikkei 225 and China’s Shanghai Composite ended higher, while Hong Kong’s Hang Seng closed in negative territory. European markets traded mixed, and US indices finished mostly higher in the previous session.
Meanwhile, global oil benchmark, Brent crude, slipped 0.23 per cent to $66.08 a barrel.
IPO Market Sees Strong Participation
Investor appetite in the primary market also remained firm. Tata Capital’s public issue was subscribed 1.95 times by the end of the third day, led by robust demand from qualified institutional buyers (QIBs), who bid 3.42 times their allotted quota. Non-institutional investors subscribed 1.98 times, while retail participation stood at 1.1 times.
Global Factors to Shape Sentiment
Traders said broader market sentiment will hinge on developments around the Israel-Hamas ceasefire and the ongoing US government shutdown, which has entered its ninth day. The political deadlock continues to dampen risk appetite globally, even as Wall Street posted overnight gains.
Experts believe the combination of resilient domestic flows, easing geopolitical stress, and positive global cues could help Indian equities sustain their momentum, though short-term volatility cannot be ruled out.
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