Markets Open Higher On Q2 Earnings Momentum; Nifty Nears 25,450 Mark

Equity benchmarks began Thursday’s session on a positive note, lifted by stock-specific movements as companies continue to post their second-quarter results.

At the opening bell, the Sensex advanced 340 points, or 0.41 per cent, to 82,945, while the Nifty gained 105 points, or 0.41 per cent, to reach 25,428.

According to analysts, “From a technical perspective, a sustained move above 25,450 could pave the way for a rally toward 25,500. On the downside, immediate support lies at 25,200 and 25,150, which may serve as potential entry points for long trades.”

Top gainers on the Sensex included Axis Bank, Adani Ports, and Titan. Kotak Bank, Mahindra & Mahindra, and BEL also advanced. Tata Motors, NTPC, and HCL Tech were among the other notable gainers.

Meanwhile, Infosys, Tech Mahindra, TCS, Tata Steel, and Sun Pharma were among the early losers.

In the broader market, the Nifty MidCap index rose 0.23 per cent. The Nifty SmallCap index gained 0.56 per cent. This reflected continued investor interest in mid- and small-cap shares.

Across sectors, the Nifty Auto and Nifty Private Bank indices led the advance, each rising 0.8 per cent.

The Nifty Realty index followed with a 0.6 per cent gain. In contrast, the Nifty IT index slipped 0.14 per cent as technology stocks witnessed mixed performance.

Market experts noted that recent remarks from the US administration indicate easing trade frictions with India. They hinted at the possibility of a bilateral trade deal in the coming weeks.

On the institutional front, Foreign Institutional Investors (FIIs) were net buyers to the tune of Rs 68 crore on 15 October. Domestic Institutional Investors (DIIs) made purchases worth Rs 4,650 crore. Their strong buying lent firm support to market sentiment.

Analysts advised traders to adopt a cautious ‘buy-on-dips’ stance given ongoing volatility and mixed global signals. They recommended partial profit booking during rallies and the use of tight trailing stop-losses to manage exposure effectively.

They further suggested, “Fresh long positions should be considered only if the Nifty sustains above the 25,500 mark. While the broader market undertone remains cautiously bullish, close monitoring of key technical levels and global developments will be crucial in the sessions ahead.”

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