Synopsis: Indian stock markets saw positive momentum on Thursday despite weak global cues, with Sensex gaining over 300 points and Nifty crossing the 24,700 mark. Pharma and Realty sectors led gains while global investors eyed upcoming economic data.
Indian equity markets opened on a positive note Thursday morning, shrugging off weak global cues. The BSE Sensex was trading around 81,136, up 137 points (0.17%), while the Nifty50 rose 38 points (0.15%) to 24,658, maintaining its position above the key 24,700 level.
Broader Market Overview:
- Nifty MidCap Index: +0.32%
- Nifty SmallCap Index: +0.5%
The broader markets continued to reflect investor confidence, with notable buying seen across mid and small-cap counters.
Sector-Wise Performance:
Top Gainers:
- Nifty Pharma: +0.6%
- Nifty Realty: +0.6%
Top Loser:
- Nifty FMCG: -0.24%
Honasa Consumer Ltd, the parent company of Mamaearth, stood out with a 3% intraday surge, reflecting strong investor sentiment.
Global Market Snapshot:
Markets in the Asia-Pacific region traded mixed, weighed down by disappointing US employment data. According to ADP, the US added only 37,000 private-sector jobs in May, the lowest in over two years and far below the projected 110,000. April's data was also revised downward to 60,000.
Nikkei: Flat with slight downside
- Topix: -0.5%
- Kospi: +0.95%
- ASX 200: +0.2%
Wall Street Wrap (Wednesday):
- Dow Jones: -0.22%
- S&P 500: +0.01%
- Nasdaq: +0.32%
Investors are now awaiting key data points such as:
- US Initial Jobless Claims
- US April Trade Data
- China’s May PMI
- ECB Interest Rate Decision
Market Sentiment:
Despite external volatility, domestic markets are being buoyed by sectoral rotation and strong institutional support in select mid-cap and pharma names. Experts recommend a cautious but optimistic stance ahead of global data releases.
Disclaimer: The above article is for informational purposes only and does not constitute financial advice. Readers are advised to consult a certified financial advisor before making any investment decisions.
