Indian stock markets looked set for a favourable session on Thursday. The BSE Sensex rang the opening bell above 82,850, climbing more than 250 points, while the NSE Nifty50 started trading just under 25,400, clocking gains of 70 points, around 9:15 AM.
On the 30-share Sensex, Axis Bank, Eternal, Kotak Mahindra Bank, ICICI Bank, and HCL Tech stood among the gainers. On the other hand, the laggards included Infosys, Bharti Airtel, Tata Steel, TCS, and UltraTech Cement.
In the broader markets, the Nifty Bank index stood out and soared 0.64 per cent. Sectorally, the Private Bank index dominated in green after it rose more than 1 per cent. Meanwhile, the Financial Services Ex-Bank index bled 0.57 per cent.
Asian Markets And India-US Relations
The indices tracked positive trends across Asian markets and overnight global cues. Early indicators showed optimism as the GIFT Nifty futures traded 46 points higher at 25,470 at 7:58 AM, suggesting that domestic benchmarks may continue their upward momentum. In the pre-open session, the Sensex jumped close to 50 points and neared 82,650, while the Nifty inched up over 30 points to cross 25,350, around 9:05 AM.
Adding to the optimism, gold prices continue to climb to fresh record highs, reflecting safe-haven demand amid global uncertainty.
Meanwhile, trade relations between India and the United States are seeing renewed engagement. The Indian negotiating team is currently in the US to continue deliberations, with both sides aiming for a “win-win solution.” “Discussions are on the table, and we are in a deeper phase of engagement,” media reports said citing government sources, adding that India’s exports to the US have shown growth and the trend is expected to continue.
How Did Markets Fare Yesterday?
On Wednesday, the domestic equities closed sharply higher, with benchmark indices rallying for a second consecutive session, buoyed by gains in financial and banking stocks as well as upbeat global sentiment. Investors drew confidence from expectations of an imminent rate cut by the US Federal Reserve later this month.
The Sensex surged 575.45 points, or 0.70 per cent, to close at 82,605.43. Meanwhile, the NSE Nifty rose 178.05 points, or 0.71 per cent, to end at 25,323.55.
