Indian equity indices opened Thursday’s trading session on a higher note, following a sharp jump in global markets as Nvidia posted strong earnings numbers. The NSE Nifty 50 opened 47 points or 0.18% higher at 26,100. The BSE Sensex opened 164 points or 0.19% higher at 85,350.
The Bank Nifty opened flat at 59,215. Similarly, the small and mid-cap stocks were in line with benchmarks. The Nifty Midcap opened 204 points or 0.33% higher at 61,153.
“The bullish trend in the market is likely to sustain, aided by positive triggers. At the fundamental level, the picture of ‘strong macros but weak micros’ at the beginning of the year is changing to ‘ strong macros and improving micros’. This fundamental support is aided by the change in perception towards India by leading global banks, who now consider India fairly valued and buyable in the context of a resilient economy and improving corporate earnings. The weakening AI trade is another positive for India, which can be regarded as an anti-AI trade,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
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 Adani Enterprises, Reliance Industries, Mahindra & Mahindra, and Adani Ports. On the flip side, the key laggards in the Nifty 50 pack included HDFC Life Insurance, ICICI Bank, Maruti Suzuki, HCL Technologies, and Bharti Airtel.
Major movers on Thursday
The stocks that were the major movers in the opening trade included JSW Steel, Infosys, Kotak Mahindra Bank, HDFC Bank, and Sun Pharma, which were the major movers in the morning trade.