Mumbai: Indian stock markets opened on a strong note Wednesday, with the Sensex surging over 400 points and the Nifty trading above 25,000, as easing geopolitical tensions and positive global cues lifted investor sentiment. Buying interest was notably strong in IT, auto, and pharma sectors.
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Sensex and Nifty Rally in Early Trade
At 9:25 am, the BSE Sensex was trading 445.6 points higher at 82,500.73, up 0.54%, while the NSE Nifty rose 130.15 points to 25,174.50, marking a gain of 0.52%. The uptick reflects market optimism after a period of uncertainty driven by global geopolitical developments.
Market Resilience Amid Global Challenges
Also Read: Indian Stock Market Opens Higher as Geopolitical Tensions Ease
Experts noted the Indian market’s remarkable resilience amid global challenges, including the West Asian crisis and a brief India-Pakistan conflict. According to Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments, “A significant contributor to this resilience has been FII buying during the crisis.”
Sectoral Indices Performance
- Nifty Bank was slightly up by 31.25 points at 56,493.15
- Nifty Midcap 100 gained 245.40 points to 58,867.80
- Nifty Smallcap 100 rose 165.10 points to 18,617.85
Top Gainers and Losers
Top Gainers (Sensex Pack):
- Titan
- UltraTech Cement
- Trent
- HCL Tech
- Adani Ports
- Tech Mahindra
- Tata Steel
- PowerGrid
- Hindustan Unilever
- L&T
Top Losers:
- Kotak Mahindra Bank
- ICICI Bank
- BEL
- Axis Bank
FII vs DII Activity: Mixed Sentiments
On June 24, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth ₹5,266.01 crore. In contrast, Domestic Institutional Investors (DIIs) remained net buyers, purchasing equities worth ₹5,209.60 crore.
Analysts suggest that DII inflows via mutual funds are acting as a cushion against FII outflows, maintaining market stability despite valuation concerns.
Asian Markets Trade Mixed
Asian markets mostly traded in green:
- Japan, China, Seoul, and Hong Kong saw gains
- Bangkok and Jakarta traded in the red
Global Market Cues
In the previous session, US stock indices closed sharply higher:
- Dow Jones: Up 507.24 points at 42,581.78
- S&P 500: Gained 67.01 points to 6,025.17
- Nasdaq: Jumped 281.56 points to 19,630.97
Outlook
With easing geopolitical tensions and robust domestic institutional support, the Indian stock market is likely to remain buoyant in the near term, especially as earnings season approaches and global cues remain supportive.