Indian stocks traded higher on Thursday, with the Sensex and Nifty lifted by upbeat quarterly earnings from Sun Pharmaceutical Industries and Britannia Industries, while reports of the inclusion of four domestic firms in the MSCI index added to the positive sentiment.
The NSE Nifty 50 advanced 0.10% to 25,623.90 at the open, while the BSE Sensex gained 329.03 points, or 0.39%, to start the session at 83,788.18.
On the Sensex, Asian Paints, Mahindra & Mahindra, Reliance Industries, State Bank of India and Adani Ports led the advance, climbing between 1% and 5%.
Broader markets were subdued, with both mid-cap and small-cap stocks trading largely flat.
Sun Pharmaceutical Industries rose 1.5%, while Britannia Industries surged 4% after reporting higher second-quarter profits.
Paytm gained 4.3% after analysts described its core second-quarter performance as healthy. The stock also featured among the four domestic firms added to the MSCI Global Standard Index in the November reshuffle, a move expected to draw additional foreign inflows.
Expert views
Yesterday’s holiday saved the Indian market getting impacted by the mild turbulence in global markets, said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, adding that today the scenario is different with stability returning to markets.
"In the coming days the focus of the market will be the developments in the U.S. Supreme Court which is hearing the petition against Trump tariffs. Observations by some judges that ‘President Trump had overstepped his authority’ is a significant development. If the final judgement goes in line with these observations, there will be major volatility in markets, with emerging markets, particularly India which has been targeted for steep 50 percent tariff, rallying smartly," said Vijayakumar.
For the near-term, however, the resumption of sustained selling by FIIs (Rs 15,336 crores in the last five days) and increasing FII short positions will weigh on markets, Vijayakumar added.
MORE TO COME...
The NSE Nifty 50 advanced 0.10% to 25,623.90 at the open, while the BSE Sensex gained 329.03 points, or 0.39%, to start the session at 83,788.18.
On the Sensex, Asian Paints, Mahindra & Mahindra, Reliance Industries, State Bank of India and Adani Ports led the advance, climbing between 1% and 5%.
Broader markets were subdued, with both mid-cap and small-cap stocks trading largely flat.
Sun Pharmaceutical Industries rose 1.5%, while Britannia Industries surged 4% after reporting higher second-quarter profits.
Paytm gained 4.3% after analysts described its core second-quarter performance as healthy. The stock also featured among the four domestic firms added to the MSCI Global Standard Index in the November reshuffle, a move expected to draw additional foreign inflows.
Expert views
Yesterday’s holiday saved the Indian market getting impacted by the mild turbulence in global markets, said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, adding that today the scenario is different with stability returning to markets.
"In the coming days the focus of the market will be the developments in the U.S. Supreme Court which is hearing the petition against Trump tariffs. Observations by some judges that ‘President Trump had overstepped his authority’ is a significant development. If the final judgement goes in line with these observations, there will be major volatility in markets, with emerging markets, particularly India which has been targeted for steep 50 percent tariff, rallying smartly," said Vijayakumar.
For the near-term, however, the resumption of sustained selling by FIIs (Rs 15,336 crores in the last five days) and increasing FII short positions will weigh on markets, Vijayakumar added.
MORE TO COME...
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