Mumbai’s stock market kicked off Thursday with a positive note, as the Sensex climbed 143 points to open at 82,419 before surging to a high of 82,579.16. The Nifty also jumped over 50 points, touching 25,567.60 in early trade.
By 9:35 AM, the 30-share Sensex was trading at 82,382.07, up 106 points or 0.13%. The Nifty stood at 25,365.37, gaining 89.30 points or 0.11%. After an initial IT sector dip, fresh buying revived the momentum, though a slight pullback followed before stability returned.
Broader markets shone brighter, with Nifty Midcap 100 up 0.55% and Nifty Smallcap 100 rising 0.24%. The BSE IT index led with a robust 1.4% gain.
Sector-wise, Nifty IT topped the charts at 1.34%, followed by Nifty Bank (0.32%), Nifty Auto (0.26%), Nifty Financial Services (0.20%), and Nifty Metal (0.15%). IT heavyweights like Tech Mahindra, Infosys, HCL Tech, and TCS posted 1-2% gains. Sun Pharma, L&T, Maruti Suzuki, Titan, BEL, and Adani Ports also advanced.
NTPC, Powergrid, Axis Bank, HUL, Ultratech Cement, and Eternal were among the laggards.
Experts note the Nifty consolidating between 25,250 and 25,650. Holding above 25,250 is crucial for recovery, while 25,650 acts as key resistance. FIIs have been mixed, but DIIs bought over ₹5,119 crore, bolstering confidence. India VIX decline signals easing short-term volatility.
With consolidation near resistance and intermittent profit-taking, experts advise caution, stock-specific strategies, and disciplined risk management for investors.