Markets Settle In Green Amidst Volatility, Sensex Near 81,550, Nifty At 25K
This reversal in sentiment was backed by encouraging signals from India-US trade discussions and favourable global trends.
Indian stock markets witnessed heavy volatility on Thursday. However, both benchmarks, Sensex and Nifty, managed to close trading in green. The BSE Sensex settled at 81,549, jumping more than 100 points, while the NSE Nifty50 ended for the day at 25,006, climbing 32 points.
On the 30-share Sensex, NTPC, Axis Bank, Eternal, PowerGrid, and Bharti Airtel stood among the gainers in the market opening hour. Meanwhile, the laggards included Infosys, Titan, UltraTech Cement, HUL, and BEL.
In the broader markets, the Nifty Next50 stood out with gains of 0.33 per cent. Sectorally, the Media index dominated across the board after it climbed 1.02 per cent. On the other hand, the Midsmall Financial Services index remained the largest laggard as it tanked 0.81 per cent.
Notably, both indices slipped as markets opened, but managed to recover and started trading positively soon after. This reversal in sentiment was backed by encouraging signals from India-US trade discussions and favourable global trends. At 9:25 AM, the Sensex was up 85 points, or 0.11 per cent, at 81,510, while the Nifty gained 24 points, or 0.09 per cent, to trade at 24,997.
"The Nifty50 index has closed above the critical threshold of 25,000. The unexpected imposition of a 50 per cent tariff on India by the US initially dragged the main index down to 24,400,” Vinod Nair, Head of Research, Geojit Investments Limited, said. "Positive signals from the US to resume trade discussions with India have further paved the way for the index to ascend into a new range, which was highly expected by the market," he added.
Market Outlook And Global Trends
The Nifty extended its winning streak for a sixth straight session on Wednesday, aided by progress in bilateral trade talks with Washington. Analysts noted that while sentiment remains positive, volatility and mixed external cues continue to temper investor confidence.
Across Asia, hopes of a US Federal Reserve rate cut boosted sentiment, with investors also weighing China’s August inflation numbers. Data from the National Bureau of Statistics showed consumer prices declined 0.4 per cent year-on-year, defying expectations.
On the institutional front, FIIs sold equities worth Rs 115 crore on Wednesday, while DIIs turned strong buyers, pumping in Rs 5,004 crore, as per exchange data.
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