Benchmark stock indices extended their winning streak for the second consecutive day, opening higher amid easing geopolitical tensions in the Middle East. The S&P BSE Sensex surged 442.13 points to 82,497.24, while the NSE Nifty50 gained 127.10 points to reach 25,171.45 as of 9:32 am, registering over half a percent rise in early trade.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted the remarkable resilience of the Indian market, even in the face of significant challenges like the West Asian crisis. He noted that foreign institutional investors (FIIs) had shown interest during the crisis period but turned to profit-booking after tensions eased. Meanwhile, domestic institutional investors (DIIs) continued to provide steady support, driven by consistent mutual fund inflows.
Vijayakumar pointed out that the key challenge for investors now lies in identifying stocks that offer a strong balance of growth and value. He believes that for long-term investors, promising opportunities exist in segments like capital markets, domestic consumption (aviation, telecom), and premium consumption (hotels, automobiles, and jewellery).
The broader markets mirrored the benchmark indices’ optimism. The Nifty Midcap 100 rose 0.46%, while the Nifty Smallcap advanced 1.09%. Market volatility also eased, with the India VIX falling by 2.38%.
All 13 major sectoral indices opened in the green, indicating broad-based buying:
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Nifty FMCG led the gains, rising 0.88%
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Nifty IT climbed 0.82%
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Nifty Consumer Durables gained 0.70%
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Nifty Auto added 0.64%
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Nifty Oil & Gas rose 0.61%
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Nifty Healthcare advanced 0.57%
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Nifty Pharma increased by 0.51%
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Nifty Metal was up 0.44%
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Nifty Financial Services rose 0.34%
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Nifty Media climbed 0.31%
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Nifty Realty gained 0.19%
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Nifty Private Bank edged up 0.16%
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Nifty PSU Bank added 0.30%
There were no sectoral laggards in the opening session, reflecting widespread investor optimism. FMCG and IT stocks were the primary drivers of the rally, but all sectors contributed to the overall positive market momentum.
