Indian equity indices opened Thursday’s trading session on a higher note. The NSE Nifty 50 opened 0.21% higher at 25,102. The BSE Sensex opened 203 points higher at 82,061.
Similarly, Bank Nifty opened 144 points or 0.26% higher at 55,842. In line with the benchmarks, the small and midcap stocks opened the day higher. The Nifty Midcap surged 109 points to 58,040.
“Sentiment remains cautious ahead of Trump’s 50% tariff coming into effect on 27th August, weak global cues, and persistent FII selling (Rs 1,100 crore yesterday; Rs 25,380 crore net in August so far). Sticky US inflation and profit booking in the Nasdaq add to the headwinds. With the Jackson Hole Symposium and Fed Chair Powell’s speech on 22nd August in focus, markets may see a choppy session,” said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.
“Technically, the market successfully crossed the resistance zone of 25,050, and following the breakout, it accelerated its positive momentum. Additionally, the formation of a bullish candle on the daily chart and an uptrend continuation on the intraday chart indicate further upside momentum from the current levels,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
Let’s take a look at the key factors to watch out for today’s trading session
Early gainers and laggards
In early trade, among the Nifty 50, top gainers at this hour were Bajaj Finserv, SBI Life Insurance, HDFC Life Insurance, Reliance Industries, and Tata Motors. On the flip side, the key laggards in the Nifty 50 pack included Hindustan Unilever, Tata Consumer Products, Zomato (Eternal), Nestle India, and Sun Pharma.
Major movers on Thursday
The stocks that remained under pressure included Reliance Industries, ICICI Bank, Bharti Airtel, Bajaj Finserv, and SBI Life, which were the major movers in the morning trade.
Global markets
Asia-Pacific markets traded mostly higher on Thursday. Japan’s Nikkei 225 was down 0.21% in early trade, while the broader Topix index ticked down 0.4%. The key US indices closed the session overnight in the red on Wednesday as investors assessed mixed retail earnings results and the Federal Reserve’s latest meeting minutes release.