The Indian stock market opened with gains on Thursday, thanks largely to strong demand for IT stocks amid positive global sentiments. At around 9:23 AM, Sensex rose 114 points or 0.14% to 83,861, with Nifty up 39 points or 0.15% at 25,859.
Nifty IT stole the show, jumping over 1% and emerging as the leading sectoral gainer. Positive vibes spread to Nifty Metal, Auto, Commodities, India Defence, Pharma, Energy, Healthcare, and PSU Banks, all in the green zone during initial hours.
Dragging the indices lower were Nifty Private Bank, Realty, Consumer Durables, Media, and FMCG, which opened weaker. Mid and smallcaps kept pace modestly, with Nifty Smallcap 100 at 17,255 (up 16 points) and Midcap 100 at 60,199 (up 11 points).
In the Sensex basket, HCL Tech, Tech Mahindra, TCS, Infosys, Maruti Suzuki, Tata Steel, NTPC, HUL, and Bharti Airtel led advances, countered by losses in Indigo, Asian Paints, ITC, Kotak Mahindra Bank, Bajaj Finance, Axis Bank, BEL, Trent, and Bajaj Finserv.
Asian markets provided a favorable backdrop, with Tokyo, Bangkok, Seoul, and Jakarta up; others closed. Wall Street’s Wednesday gains added to the cheer. Commodities saw WTI crude +0.51% at $65.35/bbl, Brent +0.36% at $70.60, silver +0.64% at $78/oz, and gold -0.15% at $5,002/oz.
Rising US-Iran tensions and dovish Fed expectations are fueling commodity rallies, per experts. This opening strength signals potential for a solid session, though volatility in banking and FMCG could cap upside.