After four consecutive days of declines, India’s equity benchmarks staged a strong recovery on Thursday, buoyed by upbeat global cues. The Sensex opened 414 points higher at 79,530.48, surpassing its previous close of 79,116.19. Nifty mirrored the optimism, starting at 24,615.95, up 135 points from 24,480.50.
Around 9:33 AM, trading saw Sensex at 79,382.41 (up 0.34%) and Nifty at 24,579.30 (up 0.40%). Midcap and Smallcap indices shone brighter, gaining 0.82% and 0.83%. Realty sector stole the show, with Oil & Gas and Auto close behind.
Top performers in Sensex included Sun Pharma, Adani Ports, L&T, BEL, NTPC, and Tata Steel. Laggards were HCL Tech, TCS, HUL, Tech Mahindra, and Asian Paints. Asian-Pacific markets fueled the sentiment: Kospi leaped 12%+, Nikkei over 4%, post Wall Street rebound.
Wednesday’s rout stemmed from geopolitical flares between US-Israel and Iran, pushing oil higher and triggering global sell-offs. Indian markets opened down 2%+ that day. Analyst Hitesh Tayal from Choice Broking highlights Nifty support at 24,300-24,350 and resistance at 24,600-24,650. RSI below 50 at 30.37 indicates caution.
FII selling persisted at ₹8,752 crore (fourth day), offset by DII buying exceeding ₹12,000 crore (sixth day). With uncertainties looming, experts recommend sticking to quality stocks on pullbacks. A decisive Nifty move above 25,000 could signal a bullish shift.