Business

Indian Stock Markets Rally On Strong Global Cues; Sensex Surges 867 Points

Indian stock markets surged at the start of Friday’s trading session, driven by encouraging trends from global markets and notable gains in index points.

By 9:33 AM, the Sensex had risen by 867 points, or 1.07%, reaching 79,730, while the Nifty climbed 257 points, or 1.07%, to 24,374.

The rally saw strong buying interest in midcap and smallcap stocks across the board.

The Nifty Midcap 100 index gained 515 points, or 0.91%, to 57,196, and the Nifty Smallcap 100 index rose 185 points, or 1.01%, to 18,492.

Additionally, market volatility, as measured by the India VIX, decreased significantly by 5.72% to 15.65.

Almost all sectors on the NSE were trading positively, with the auto, IT, metal, realty, energy, and media sectors leading the gains.

In the Sensex, all 30 stocks were in the green, with Tech Mahindra, HCL Tech, Tata Motors, M&M, TCS, and Wipro among the top performers.

Major Asian markets, including Tokyo, Shanghai, Seoul, and Bangkok, responded to the positive sentiment with gains.

In the US, markets closed higher on Thursday after a better-than-expected decline in jobless claims, easing some concerns over an economic slowdown.

Foreign institutional investors (FIIs) offloaded equities worth ₹2,626 crore on 8 August, while domestic institutional investors (DIIs) were net buyers, purchasing equities worth ₹577 crore on the same day.

Analysts Highlight Nifty Support Points & Global Economic Impact

Analysts from Choice Broking noted, “Following a strong opening, Nifty may find support around 24,150, with further support levels at 24,100 and 24,000. On the upside, immediate resistance is likely at 24,400, followed by 24,450 and 24,500.”

Another market expert commented, “The sharp recovery in US markets suggests that recession fears may have been exaggerated. Lower-than-expected initial jobless claims indicate resilience in the labor market, though the slowdown in the US economy, coupled with challenges in the Chinese economy, could weigh on global growth prospects in the near term.”

Also Read: RBI Boosts UPI Tax Payment Limit To Rs 5 Lakh, Introduces New Payment Feature

Mankrit Kaur

Recent Posts

Hina Khan Hails 11 Years Of PM Modi’s Leadership; Highlights National Progress

As the nation marks 11 years under PM Modi's leadership, actress Hina Khan shares her…

4 hours ago

Subhash Ghai Hails PM Modi’s Transformative Vision For India

Subhash Ghai has praised PM Narendra Modi’s leadership for catalysing India’s growth and changing the…

4 hours ago

India & Central Asia Boost Rare Earth Cooperation At Delhi Meet

India and five Central Asian nations have agreed to deepen cooperation on rare earths and…

5 hours ago

PM Modi’s Beej Se Bazaar Tak Vision Reshapes Indian Agriculture

Prime Minister Modi has redefined Indian agriculture with the ‘Beej Se Bazaar Tak’ vision, transforming…

5 hours ago

EV Sales Cross 4% Mark In May; Signalling Steady Shift To Green Mobility

EV sales topped 4% of passenger vehicle retail in May 2025, signalling growing demand for…

6 hours ago

Self-Reliant Defence Industry Marks India’s Strategic Security Ascent

One year into Modi 3.0, reforms have reduced poverty, strengthened defence, and accelerated the digital…

6 hours ago