Indian Equity Markets In Green

Benchmark indices Sensex and Nifty opened with strong gains on Thursday. This is buoyed by a rally in Reliance Industries and continued foreign institutional investor (FII) buying.

Key Highlights:

At the opening of trade today:

• Sensex rose 197.83 points to 81,196.08
• Nifty advanced 71 points to 24,691.20
• Reliance Industries led early trade surge
• FIIs net buyers with ₹1,076 crore inflow on Wednesday

Positive cues from most Asian markets and renewed interest in blue-chip stocks supported the early market sentiment. Reliance Industries was among the top contributors to the upward movement. This is accompanied by Power Grid, Sun Pharma, Mahindra & Mahindra, HCL Technologies, Adani Ports, and NTPC.

On the other hand, Bajaj Finance, Bajaj Finserv, Nestle, and Hindustan Unilever traded in the red, slightly weighing on the index.

Foreign Institutional Investors turned net buyers on Wednesday, purchasing ₹1,076.18 crore worth of equities, according to exchange data.

Asian Market Trends:

• Gainers: South Korea’s Kospi, Hong Kong’s Hang Seng, and Shanghai’s SSE Composite Index
• Loser: Japan’s Nikkei 225 traded lower

Global Market Overview:

US markets closed mixed overnight, while Brent crude, the international oil benchmark, saw a marginal dip of 0.12 percent, trading at $64.78 per barrel. On Wednesday, the Sensex had closed 260.74 points higher at 80,998.25, while the Nifty ended the day up 77.70 points at 24,620.20. The positive momentum continues into Thursday’s session.

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