Sensex, Nifty Open Higher As IT Stocks Lead Gains; Investors Track Global Cues

Indian equity markets opened on a positive note on Thursday, with benchmark indices extending gains amid favourable global cues and improved investor sentiment.

The BSE Sensex opened at 77,388 and was trading around 140 points higher at 77,324 by 10:30 am. The NSE Nifty 50 started the session at 24,145, gaining 67.30 points or 0.28%.

The broader market remained mixed in early trade, with mid-cap and small-cap indices largely moving sideways. Out of the 16 major sectoral indices, 10 were trading in positive territory, reflecting moderate buying interest across segments.

Information technology stocks emerged as the biggest drivers of the market rally. HCL Technologies, Infosys and Tech Mahindra were among the leading gainers, supported by optimism over global technology demand and easing concerns around interest rates.

Consumer and automobile stocks also witnessed buying interest, with Maruti Suzuki and Mahindra & Mahindra featuring among the top performers.

However, some sectors remained under pressure. Axis Bank, Bharat Electronics, Adani Ports and NTPC were among the major losers during early trading. Financial services and PSU banking stocks faced selling pressure, limiting broader market gains.

The positive opening followed gains in global markets after softer-than-expected US inflation data reduced concerns over aggressive monetary policy tightening. Lower inflation readings have supported expectations that central banks may adopt a more supportive stance, improving investor appetite for equities.

The Indian market also received support from encouraging early quarterly earnings updates. The Sensex gained over 500 points at one stage, while the Nifty 50 moved above the 24,100 mark during morning trade.

Market breadth remained positive on the NSE, with 1,662 stocks advancing, 749 declining and 112 remaining unchanged. The Nifty Midcap 100 and Nifty Smallcap 100 indices also gained up to 0.5%, indicating broader participation.

Investors are currently tracking several factors, including global crude oil movements, geopolitical developments and upcoming corporate earnings. Falling oil prices, improving global sentiment and expectations of a favourable monsoon have supported domestic equities.

However, analysts continue to caution investors about volatility in low-priced stocks and pressure on banking margins. Market participants are expected to closely monitor earnings trends and macroeconomic developments for further direction.