The Indian stock market opened higher on Thursday, driven by a strong rebound in IT shares after recent corrections. Sensex started at 82,419, up 143 points, and hit 82,579.16 early on. Nifty mirrored the gains, peaking at 25,567.60 after a 50+ point leap.
As of 9:35 AM, Sensex hovered at 82,382.07 (+106 pts, 0.13%), while Nifty was at 25,365.37 (+89.30 pts, 0.11%). Initial IT weakness gave way to aggressive buying, followed by minor dips and subsequent recovery.
Wider market participation was evident, as Nifty Midcap 100 climbed 0.55% and Smallcap 100 0.24%. BSE’s IT index jumped 1.4%, stealing the show.
Nifty IT led sectoral advances at 1.34%, with Bank Nifty at 0.32%, Auto 0.26%, Financial Services 0.20%, and Metal 0.15%. Sensex IT stars Tech Mahindra, Infosys, HCL Tech, and TCS gained 1-2%. Other notables: Sun Pharma, L&T, Maruti Suzuki, Titan, BEL, Adani Ports.
Dragging the index down were NTPC, Powergrid, Axis Bank, HUL, Ultratech, and Eternal.
Analysts point to Nifty’s consolidation in the 25,250-25,650 band, where 25,250 serves as immediate support vital for upward momentum. DIIs infused over ₹5,119 crore, countering FII ambivalence, as India VIX softened, easing volatility fears.
Experts urge vigilance amid resistance-level trading and profit-taking spells, advocating stock-picking with robust risk controls for optimal returns.