Mumbai, September 3: The Indian stock market opened positively on Thursday, with the Sensex gaining 154.60 points or 0.20% to reach 76,724.95. Meanwhile, the Nifty rose by 83.50 points or 0.36%, settling at 23,997.95.
In the early trading session, banking and financial stocks led the market’s upward trend. The Nifty Private Bank, Nifty PSU Bank, and Nifty Financial Services emerged as the top gainers. Additionally, sectors like Nifty Media, Nifty Metal, Nifty Services, Nifty Energy, and Nifty Commodities also experienced positive momentum.
Conversely, the Nifty IT, Nifty FMCG, Nifty Pharma, Nifty Healthcare, and Nifty Consumption indices were in the red.
Both mid-cap and small-cap stocks saw gains alongside large-cap stocks. The Nifty Midcap 100 index rose by 166 points or 0.26% to reach 63,165, while the Nifty Smallcap 100 index increased by 168 points or 0.85%, reaching 19,981.
In the Sensex pack, notable gainers included Adani Ports, Axis Bank, SBI, ICICI Bank, HDFC Bank, L&T, Power Grid, Tata Steel, Bharti Airtel, and Kotak Mahindra Bank.
On the flip side, Tech Mahindra, HCL Tech, Indigo, Infosys, Bajaj Finance, TCS, Titan, ITC, HUL, and Asian Paints were among the laggards.
Most Asian markets were trading positively, with Tokyo, Shanghai, Bangkok, Jakarta, and Seoul in the green, while only Hong Kong was in the red. The US stock markets closed positively on Wednesday, with the Dow Jones up by 0.56% and the Nasdaq gaining 0.45%.
Market experts noted that the decline in US bond yields has created a favorable environment for global markets, including India. The record investment of $136 billion in FCNR(B) deposits is expected to support the rupee against the dollar and boost foreign investors’ confidence in India. This sentiment was further confirmed by the ₹9,500 crore purchase by foreign institutional investors (FIIs) on Wednesday.
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