Mumbai: Amid encouraging signals from around the world, including increases in car stocks, Indian benchmark indices began trading higher on Thursday.
The Nifty increased 67 points, or 0.26 percent, to 25,664 as of 9.25 am, while the Sensex was up 324 points, or 0.39 percent, at 83,783.
With the Nifty Midcap 100 down 0.10 percent and the Nifty Smallcap 100 down 0.24 percent, the broadcap indexes underperformed compared to benchmarks.
Major winners in the Nifty Pack included Asian Paints, SBI, L&T, and NTPC; losers included Apollo Hospitals, Dr Reddy’s Labs, Hindalco, Shriram Finance, and Bajaj Finance.
All sector indices were up, except for Nifty Media, Nifty Metal, and Financial Services. FMCG gained 0.77 percent, but Nifty Auto was the biggest gainer, up 0.91 percent. Nifty Metal saw a 1.01 percent decline.
Companies in important industries, particularly mid-caps, had a 14% year-over-year increase in earnings during India Inc.’s second-quarter FY26 results season, which was better than expected.
After a few quarters, brokerages saw that earnings upgrades exceeded downgrades, suggesting growing confidence in business profitability.
For the foreseeable future, analysts anticipate that markets will be impacted by FIIs’ increased short holdings and return of continuous selling.
“The holiday on Wednesday shielded the Indian market from mild turbulence in global markets. The US Supreme Court’s hearing on Donald Trump’s tariffs will be in focus for the markets in the coming days. Observations by some judges that ‘President Trump had overstepped his authority’ is a significant development,” said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
He continued, “Markets would be volatile if the final verdict is along these lines, with emerging markets, particularly India, rallying smartly.”
25,700 was seen by analysts as the immediate barrier, followed by 25,450 and 25,800. Support levels are found at 25,450 and 25,500 on the downside.
With the Nasdaq rising 0.46 percent, the S&P 500 rising 0.17 percent, and the Dow falling 0.48 percent, the US markets concluded the day in the green zone.
During the morning session, the majority of Asian markets saw positive activity. Japan’s Nikkei increased 1.45 percent, Hong Kong’s Hang Seng Index increased 1.69 percent, China’s Shanghai index was up 0.88 percent, and Shenzhen’s index increased 1.39 percent. Kospi from South Korea contributed 1.58%.
Foreign institutional investors (FIIs) sold stocks worth Rs 1,067.01 crore during Tuesday’s final trading session, while domestic institutional investors (DIIs) were net purchasers of stocks for the seventh consecutive session, acquiring shares valued at Rs 1,202.90 crore.
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Photo: Nitin Lawate/IANS
–IANS
