Indian stock markets opened on a cautious note Thursday despite strong global cues and easing geopolitical tensions, as investors opted for mild profit booking, especially in banking and financial services stocks.
By 9:24 am, the BSE Sensex was down 56.62 points at 84,002.28, while the NSE Nifty50 fell 10.55 points to 25,627.25. Although the indices slipped in early trade—Sensex briefly dropping over 100 points—they remain close to record highs, with Nifty just below its all-time peak of 26,277.
Top gainers included:
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Jio Financial Services
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Eternal
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ONGC
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Trent
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IndusInd Bank
Top laggards were:
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Hero MotoCorp
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NTPC
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Tata Consumer Products
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Bharti Airtel
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HDFC
Dr. VK Vijayakumar of Geojit Financial Services attributed the largely resilient sentiment to a favourable global backdrop. The S&P 500 and Nasdaq hitting record highs, a retreat in Brent crude to $67, and progress on US trade negotiations are creating a positive outlook for equities.
He noted that Indian markets have recently been boosted by institutional buying in large-cap names like HDFC Bank, ICICI Bank, RIL, and L&T. Additionally, a weak US dollar index is encouraging foreign investment, while domestic retail participation remains strong.
However, Vijayakumar offered a word of caution: while remaining invested in the current bull market is sensible, new investments at high valuations could be risky. Investors are advised to stay alert to possible corrections even amid an overall bullish structure.
