The Indian stock market witnessed a recovery on Thursday after an initial decline. Nifty and Sensex recorded slight gains. Buying was observed in the Auto and IT sectors, while metal stocks remained under pressure. Investor caution continues in the market.
Stock Market Today: The Indian stock market opened with slight gains on Thursday morning. Initial trading saw some pressure, but both Nifty and Sensex recovered shortly after, with buying observed in blue-chip stocks. Positive signals from global markets, b corporate earnings, and IPO market activities supported market sentiment.
At 9:18 AM, the Nifty 50 index was at 25,642.95, marking a gain of 45.30 points or 0.18 percent compared to its previous close. Meanwhile, the Sensex opened at 83,516.69, approximately 0.06 percent higher than its previous close of 83,459.15. This indicates sustained investor interest with a degree of caution.
Broader Market Trends
Broader markets displayed mixed trends today. Nifty Midcap and Smallcap indices showed slight movements, while some indices experienced limited declines.
The Nifty Midcap 100 remained largely stable, trading without significant fluctuations. The Nifty Smallcap 100 saw a slight dip, trading down by 0.14 percent. The Nifty 100 gained 0.19 percent, reaching the 26,333.75 level. Nifty 200 was up 0.16 percent at 14,355.75, while Nifty 500 stood at 23,699.15, recording a 0.10 percent gain.
Meanwhile, the Midcap 50 and Midcap 100 indices showed only marginal strength. Slight weakness was observed in Smallcap 50, Smallcap 250, and MidSmallcap 400, indicating limited risk appetite among investors for smaller stocks.
India VIX, which gauges market volatility, fell by 0.92 percent to 12.54. This suggests that the market is currently in a calm and stable state.
Sectoral Index Performance
Sectoral indices showed mixed trends today.
Gaining Sectors:
Nifty Auto was the best sector, trading up by 0.83 percent at 26,831.45.
- Nifty IT showed strength, gaining 0.60 percent.
- Nifty FMCG was up by 0.59 percent.
- Nifty Pharma recorded a 0.39 percent gain.
- Nifty PSU Bank Index was up by 0.40 percent.
- Nifty Healthcare Index rose by 0.23 percent.
Losing Sectors:
The Nifty Metal Index dropped by 1.20 percent, making it the weakest performing sector.
- Nifty Media saw a 0.38 percent decline.
- Nifty Realty was down by 0.01 percent.
- Nifty Financial Services 25/50 Index fell by 0.08 percent.
This clearly indicates that metal stocks are under pressure in the market today, while buying interest remains b in the Auto and IT sectors.
Top Gainer Stocks
In morning trade, Asian Paints was the biggest gainer, registering a b gain of 4.56 percent. This indicates continued investor confidence in stocks related to domestic consumption and demand.
- Mahindra & Mahindra (M&M) also saw b investor interest, rising by 2.04 percent.
- State Bank of India (SBI) gained 1.31 percent, and Reliance Industries strengthened by 1.25 percent.
Larsen & Toubro (L&T), Sun Pharma, and ITC also traded in the green, proving that buying is occurring in blue-chip stocks in the market.
Top Loser Stocks
Power Grid was the biggest loser today, trading down by 2.19 percent.
Bajaj Finance, HDFC Bank, and BEL also saw slight declines. This indicates that there is still some pressure in the banking and power sectors, and investors are currently adopting a cautious approach here.
Global Market Cues
- Asia-Pacific markets showed considerable strength today.
- South Korea's Kospi Index jumped by 2.5 percent.
- Japan's Nikkei 225 was up by 1.45 percent.
- Australia's S&P/ASX 200 rose by 0.58 percent.
- US markets also closed b on Wednesday.
- S&P 500 gained 0.37 percent, Nasdaq 0.65 percent, and Dow Jones 0.48 percent.
All these indicators provided psychological support to the Indian market.
Recent Domestic Market Status
The market recorded a decline on Tuesday. The Sensex closed down by 519.34 points at 83,459.15, and the Nifty fell by 165.70 points to 25,597.65.
Markets were closed on Wednesday due to a holiday.
FIIs sold shares worth Rs 1,160.10 crore, while DIIs made purchases worth Rs 1,042.14 crore. This indicates that domestic investors are supporting the market.
IPO Market Activity
Today, activity continues in the IPO market as well.
- The basis of allotment for Lenskart Solutions' IPO will be decided today.
- Orkla India shares will be listed today.
- Subscription for Groww IPO will continue on its second day today.
IPOs like Finbud Financial Services and Safecure Services are also attracting investor attention in the SME market.
