Indian benchmark indices opened slightly higher on Thursday, tracking firm global markets and early buying in key sectors.
At 9:25 AM, the BSE Sensex was up by 68.28 points, trading at 83,477.97, while the NSE Nifty rose by 19.30 points, reaching 25,472.70.
Early momentum was driven by gains in IT, auto and pharma stocks, even as analysts warned of volatility due to weekly derivatives expiry.
Market analysts noted that the indices are currently consolidating the recent bullish breakout, with 25,200–25,270 acting as a crucial support zone for the Nifty.
“Below 25,200, we risk slipping to 25,000. On the upside, a breakout past 25,670 could trigger another bullish leg,” said Akshay Chinchalkar, Head of Research at Axis Securities.
Meanwhile, concerns persist over the upcoming US tariff deadline, which may influence global investor sentiment in the coming week.
Mixed sector performance; Nifty Bank trades flat
In sectoral indices, Nifty Bank was marginally down by 9.90 points at 56,989.30.
The Nifty Midcap 100 dropped 22 points to trade at 59,645.25, and the Nifty Smallcap 100 was down by 7.75 points at 18,969.35, both reflecting muted mid and small-cap action.
Among the Sensex components, Kotak Mahindra Bank, Bajaj Finance, Bajaj Finserv, BEL, Titan, Axis Bank, and HCL Tech were among the top losers.
Top gainers included Eternal (formerly Zomato), Asian Paints, Infosys, Tech Mahindra, Maruti Suzuki, and ICICI Bank.
On July 2, foreign institutional investors (FIIs) sold equities worth ₹1,561.62 crore, extending their recent selling trend.
In contrast, domestic institutional investors (DIIs) remained net buyers, picking up equities worth ₹3,036.68 crore, reflecting confidence in the domestic growth story.
Asian markets traded mostly in the green. Bangkok, Tokyo, Shanghai, Seoul, and Jakarta posted gains, while Hong Kong edged lower.
Overnight, the US markets saw mixed performance:
- Dow Jones closed marginally lower at 44,484.42
- S&P 500 gained 29.41 points to 6,227.42
- Nasdaq surged by 190.24 points to 20,393.13
Analysts also pointed to the recently announced US-Vietnam trade deal as a sign of Washington’s eagerness to form new global partnerships amid stalled deals with the EU and Japan.
With consolidation underway and derivative expiry due today, volatility is expected to remain elevated.
However, sustained buying by domestic institutions and resilient global markets could help the Indian indices maintain upward momentum in the near term.
Also Read: India Set To Outpace Global Peers In Economic Growth, Says Morgan Stanley Report
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