The Indian stock market opened flat on Thursday but soon gained momentum, with Sensex rising 232.01 points to 82,404.11 and Nifty50 adding 70.60 points to 25,252.40 as of 9:32 am.
What’s Driving the Market?
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, highlighted the positive market environment:
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Global cues: Gaza peace accord reduces geopolitical risks.
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Domestic factors: Prospective US-India trade deal and India’s oil purchase adjustments.
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FIIs: Foreign Institutional Investors have been net buyers in the last three trading days.
Top Gainers and Losers
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Gainers: Power Grid (+1.22%), Adani Ports (+0.92%), Trent (+0.85%), SBI (+0.82%), ITC (+0.78%)
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Losers: Tata Steel (-1.59%), TCS (-1.68%), Mahindra & Mahindra (-1.62%), Bajaj Finance (-0.35%), Tech Mahindra (-0.14%)
Sector Performance
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Top sectoral gainers: Nifty Realty (+1.46%), Nifty Metal (+1.12%), Nifty Consumer Durables (+0.88%), Nifty Private Bank (+0.63%)
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Other sectors: FMCG, Oil & Gas, Auto, Pharma, Media, and Healthcare posted modest gains
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Decliners: Only Nifty IT faced slight selling pressure (-0.18%)
Market Outlook
Vijayakumar noted that:
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Short-covering could push markets higher due to elevated short positions.
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IT sector sentiment may improve after TCS posted better-than-expected revenue and margins.
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IPO market exuberance: LG Electronics IPO oversubscribed 54 times, adding liquidity that could further support market gains.
Despite relatively high valuations, these factors point toward continued positive momentum in the near term.
