The Indian stock market opened on a positive note, with the S&P BSE Sensex rising 232.01 points to 82,404.11 and the NSE Nifty50 gaining 70.60 points to 25,252.40 as of 9:32 am. Early optimism was driven by a combination of domestic and global factors. Globally, the Gaza peace accord eased geopolitical tensions, while domestically, signs of a potential US-India trade deal and India’s rebalancing of oil purchases provided additional support. Foreign Institutional Investors (FIIs) also remained net buyers over the past three sessions, boosting market sentiment.
Among individual stocks, Power Grid Corporation led the gainers with a 1.22% rise, followed by Adani Ports (+0.92%), Trent (+0.85%), State Bank of India (+0.82%), and ITC (+0.78%). On the downside, Tata Steel fell 1.59%, Tata Consultancy Services (TCS) dropped 1.68%, Mahindra & Mahindra slipped 1.62%, Bajaj Finance lost 0.35%, and Tech Mahindra declined 0.14%.
Sectorally, most indices traded higher, led by Nifty Realty (+1.46%), Nifty Metal (+1.12%), and Nifty Consumer Durables (+0.88%). Nifty Private Bank and Nifty PSU Bank rose 0.63% and 0.60%, respectively, while Nifty FMCG gained 0.51%. Only Nifty IT saw mild selling pressure, down 0.18%.
Analysts highlighted that short-covering could further propel the market, given the high short positions currently in place. Positive corporate results, particularly TCS’s better-than-expected revenue and margins, may lift IT stock sentiment. Additionally, strong investor enthusiasm in the IPO market, exemplified by LG Electronics’ Rs 11,607 crore IPO being oversubscribed 54 times, is expected to inject liquidity into the market, potentially sustaining the upward momentum.
