Indian Stock Market Opens Higher, Sensex Crosses 83,400
The Indian benchmark indices opened higher on Thursday, buoyed by positive global cues and strong buying interest in the IT, pharma, and auto sectors during early trade.
Mumbai: The Indian benchmark indices opened higher on Thursday, buoyed by positive global cues and strong buying interest in the IT, pharma, and auto sectors during early trade.
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Sensex and Nifty Start in Green Amid Global Optimism
At around 9.25 am, the BSE Sensex was trading 68.28 points or 0.08 per cent higher at 83,477.97, while the NSE Nifty rose 19.30 points or 0.08 per cent to 25,472.70.
Analysts noted that markets are consolidating the recent bullish rectangle breakout, suggesting bulls are merely taking a breather as long as the 25,200–25,270 zone holds.
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“Under 25,200, we risk 25,000. On the upside, the recent swing high at 25,670 is where the bullish trigger lies,” said Akshay Chinchalkar, Head of Research, Axis Securities.
With the deadline for the US tariff pause expiring next week, investors are watching closely to see whether current global optimism will sustain.
“Today is weekly derivatives expiry, so higher-than-usual volatility may be seen,” Chinchalkar added.
Mixed Performance Across Indices and Stocks
The Nifty Bank index was marginally down by 9.90 points or 0.02 per cent at 56,989.30 in early trade.
The Nifty Midcap 100 index slipped by 22 points or 0.04 per cent to 59,645.25, while the Nifty Smallcap 100 index was down 7.75 points or 0.04 per cent at 18,969.35.
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In the Sensex pack, Kotak Mahindra Bank, Bajaj Finance, Bajaj Finserv, BEL, Titan, Axis Bank, NTPC, SBI, HCL Tech, and ITC were among the top losers.
Meanwhile, Eternal (earlier known as Zomato), Asian Paints, M&M, Infosys, Tech Mahindra, Maruti Suzuki, and ICICI Bank led the list of top gainers.
Foreign institutional investors (FIIs) continued their selling streak on July 2, offloading equities worth Rs 1,561.62 crore, while domestic institutional investors (DIIs) were net buyers, investing Rs 3,036.68 crore on the same day.
Asian Markets Mostly in Green
In Asian markets, indices in Bangkok, China, Japan, Seoul, and Jakarta were trading in positive territory, while only Hong Kong was in the red.
In the previous US trading session, the Dow Jones closed at 44,484.42, down 10.52 points or 0.02 per cent. However, the S&P 500 gained 29.41 points or 0.47 per cent to settle at 6,227.42, and the Nasdaq advanced 190.24 points or 0.94 per cent to close at 20,393.13.
Analysts noted that the recently concluded US-Vietnam trade deal highlights the US administration’s urgency to secure new trade agreements amid uncertainty around potential deals with the EU and Japan.
