Indian equity markets began Thursday’s session on a positive note, supported by firm global trends and strong buying in automobile stocks.
At 9:25 AM, the Sensex advanced 324 points (0.39%) to 83,783, while the Nifty 50 rose 67 points (0.26%) to 25,664, signalling a steady start for benchmark indices.
In contrast, the broader market underperformed, with the Nifty Midcap 100 slipping 0.10% and the Nifty Smallcap 100 declining 0.24%.
Among major gainers in the Nifty pack were Asian Paints, SBI, L&T, and NTPC, whereas Hindalco, Shriram Finance, Bajaj Finance, Apollo Hospitals, and Dr Reddy’s Laboratories were among the top laggards.
On the sectoral front, barring Nifty Media, Nifty Metal, and Financial Services, most indices opened in positive territory. Nifty Auto led the advance with a 0.91% rise, followed by FMCG, which added 0.77%, while Nifty Metal dipped 1.01%.
Corporate earnings for the second quarter of FY26 have so far exceeded expectations, with India Inc posting a 14% year-on-year growth, particularly driven by mid-cap companies.
Brokerages highlighted that earnings upgrades have surpassed downgrades after several quarters, reflecting improved investor confidence in profitability
FII Activity and Market Outlook
However, analysts warned that renewed foreign institutional investor (FII) selling and an increase in FII short positions could cap near-term gains.
Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted, “The holiday on Wednesday shielded the Indian market from mild turbulence in global markets. The US Supreme Court’s hearing on Donald Trump tariffs will be in focus for the markets in the coming days. Observations by some judges that ‘President Trump had overstepped his authority’ is a significant development.”
“If the final verdict is on these lines, markets would be volatile, with emerging markets, especially India, rallying smartly,” he further added.
Technical analysts identified immediate resistance for the Nifty at 25,700, with additional resistance levels at 25,450 and 25,800, while support was pegged around 25,450–25,500.
Overnight, US markets closed mostly higher; the Nasdaq rose 0.46%, the S&P 500 gained 0.17%, though the Dow Jones slipped 0.48%.
Asian equities mirrored this positive sentiment, with China’s Shanghai Composite up 0.88%, Shenzhen gaining 1.39%, Japan’s Nikkei rising 1.45%, Hong Kong’s Hang Seng advancing 1.69%, and South Korea’s Kospi climbing 1.58%.
On Tuesday’s session, FIIs were net sellers to the tune of Rs 1,883 crore, while domestic institutional investors (DIIs) continued their buying streak for the seventh consecutive session, purchasing shares worth Rs 3,516 crore.
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