Mumbai, August 27: The Indian stock market opened in the green on Thursday, buoyed by strong global signals. The Sensex rose by 103.82 points, or 0.13%, reaching 77,576.76, while the Nifty gained 69.85 points, or 0.29%, to settle at 24,277.60.
Banking stocks provided significant support to the market’s upward momentum during early trading. The Nifty PSU Bank and Nifty Metal indices emerged as the top gainers.
Additionally, nearly all indices, including Nifty Infra, Nifty Energy, Nifty India Defense, Nifty PSU, Nifty Healthcare, and Nifty Commodities, were also in the green.
Large-cap stocks, along with mid-cap and small-cap shares, experienced positive trading. The Nifty Midcap 100 index surged by 265.50 points, or 0.41%, to 64,335.20, while the Nifty Smallcap 100 index rose by 61.65 points, or 0.31%, to 20,123.05.
Among the gainers in the Sensex pack were Bajaj Finance, Kotak Mahindra Bank, Tech Mahindra, Bajaj Finserv, ICICI Bank, Sun Pharma, BEL, Asian Paints, Trent, Infosys, TCS, M&M, and L&T. Conversely, HDFC Bank, Power Grid, NTPC, HUL, SBI, HCL Tech, Bharti Airtel, and UltraTech Cement faced losses.
Experts suggest that geopolitical tensions continue to impact the market. Reports of escalating tensions between the U.S. and Iran, along with renewed conflict in Russia and Ukraine, are concerning. Wheat prices have surged, which may affect inflation and interest rates in the future. Although there has been a slight easing in U.S. bond yields, they remain at elevated levels, potentially hindering market strength.
Most Asian markets traded positively, with Tokyo, Shanghai, Taipei, Seoul, and Jakarta all in the green. However, U.S. markets closed in the red on Wednesday, with the Dow Jones down by 0.21% and the Nasdaq technology index down by 0.08%.
Foreign Institutional Investors (FIIs) invested ₹502.63 crore on Wednesday, while Domestic Institutional Investors (DIIs) made a significant equity investment of ₹6,425.16 crore.
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ABS
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