Indian Markets Start Strong; IT Stocks Lift Sensex, Nifty Past Key Levels

Indian equity markets began Thursday’s session on a positive footing, despite mixed global cues that kept investors cautious.

Both benchmark indices, the Sensex and the Nifty, started higher, buoyed by strong demand for technology shares.

At the opening bell, the Sensex jumped 727.81 points to 85,154.15, while the Nifty surged 188.6 points to move past the 26,000 mark at 26,057.20.

Market analysts project an immediate upside target of 26,186 for the Nifty, with 26,800 as a more optimistic goal.

They further added, “Meanwhile, downside marker is placed at 25780, but an outright reversal is not expected today.”

Among the major gainers on the BSE were Infosys, HCLTech and Tech Mahindra, all of which witnessed steady buying interest.

Meanwhile, Bajaj Finserv, Maruti and Power Grid were among the key drags on the index.

Similar patterns observed on the NSE, where Infosys, HCLTech and Tech Mahindra remained top performers. IndiGo, Eicher Motors and Sun Pharma Life came under pressure.

Broader market indices also edged higher, with the Nifty SmallCap 100 rising 0.33 per cent and the Nifty MidCap 100 gaining 0.44 per cent.

Across sectors, the Nifty IT index led the advance with a gain of 1.84 per cent, while the Nifty Realty index slipped 0.08 per cent, making it the only sectoral laggard.

Analysts said investors showed renewed optimism, particularly towards technology counters, which lent strong support to early trade momentum.

Speculation about an upcoming trade agreement between India and the United States also lifted sentiment, they added.

“Comments from President Donald Trump and responses from Prime Minister Narendra Modi indicate an early trade deal. The expected deal involves some concessions from both sides,” market watchers noted.

Meanwhile, foreign institutional investors continued their buying streak for the fifth straight session on 21 October, purchasing equities worth Rs 96 crore.

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