Synopsis: Indian stock markets witnessed a strong opening on Thursday, led by robust buying in IT stocks. Sensex surged over 700 points while Nifty reclaimed the 26,000 mark, with Infosys, HCLTech, and Tech Mahindra driving the momentum.
The Indian stock markets kicked off Thursday’s session on a strong note, despite mixed global cues. The Sensex surged 727.81 points to open at 85,154.15, while the Nifty reclaimed the 26,000 level, opening 188.6 points higher at 26,057.20.
Market experts remain optimistic, setting an upside objective at 26,186, with an even more bullish target of 26,800, while the downside marker is placed around 25,780, indicating that no major reversal is expected today.
Leading the charge were IT giants Infosys, HCLTech, and Tech Mahindra, which attracted strong investor interest and lifted the overall market sentiment. In contrast, Bajaj Finserv, Maruti, and Power Grid emerged as top laggards on the BSE.
The NSE mirrored similar trends, with major IT stocks gaining sharply, while IndiGo, Eicher Motors, and Sun Pharma Life faced mild selling pressure.
Broader indices also stayed in positive territory — the Nifty SmallCap 100 rose 0.33%, while the Nifty MidCap 100 climbed 0.44%, reflecting broad-based market strength.
Sectorally, the Nifty IT index emerged as the top performer, jumping 1.84%, whereas the Nifty Realty index was the only laggard, slipping 0.08%.
Analysts attribute this rally to renewed investor optimism and sustained buying in technology shares, which supported early trade momentum. Additionally, reports suggesting an imminent India-US trade deal have fueled bullish sentiment among traders.
Experts note that comments from President Donald Trump and Prime Minister Narendra Modi hint at a possible trade agreement involving mutual concessions, further boosting investor confidence.
Meanwhile, Foreign Institutional Investors (FIIs) continued their buying streak for the fifth consecutive session, purchasing equities worth ?96 crore on October 21, reinforcing the positive market trend.
Disclaimer: The above article is for informational purposes only. Market investments are subject to risks; readers are advised to consult a certified financial advisor before making investment decisions.
