Indian equity benchmarks opened higher on Thursday, supported by fresh foreign fund inflows and continued buying by domestic investors, even as global uncertainties persisted.
The Nifty 50 began the session at 25,873.35, up 54 points or 0.21 per cent, while the BSE Sensex opened at 83,969.82, gaining 235.57 points or 0.28 per cent.
Market participants said positive global cues and steady domestic demand were aiding the upward movement, though risks from overseas developments continued to cap optimism.
Ajay Bagga, Banking and Market Expert, told ANI that Indian markets were attempting to break key resistance levels on the back of positive FII flows and sustained DII buying. He added that elevated market valuations and geopolitical risks, including concerns over potential US military action in the Middle East, warranted caution in the near term. Bagga also noted that Asian currencies weakened amid a stronger US dollar, while oil prices rose after remarks by US Vice President JD Vance on Iran raised fears of possible escalation.
In the commodity market, gold prices rebounded after a sharp fall on Wednesday and were trading at ₹1,55,687 per 10 grams for 24-carat gold. Silver prices also recovered to ₹2,42,520 per kilogram following a steep decline in the previous session.
Broader market indices on the National Stock Exchange traded in positive territory, with the Nifty 100 rising 0.10 per cent, the Nifty Smallcap 100 up 0.24 per cent, and the Nifty Midcap 100 gaining 0.13 per cent.
Among sectoral indices, Nifty IT led the gains with a rise of 1.22 per cent, followed by Nifty Metal at 0.65 per cent and Nifty Auto at 0.27 per cent. Nifty PSU Bank and Nifty Pharma also edged higher, while FMCG, Media, and Realty indices traded lower.
There were no settlement-related activities due to a clearing holiday on account of Chhatrapati Shivaji Maharaj Jayanti. All trades executed on February 18 and 19 in the cash and derivatives segments on the NSE and the Bombay Stock Exchange will be settled on February 20.
On the institutional front, domestic investors recorded net purchases worth ₹440 crore on Wednesday, while foreign investors infused ₹1,154 crore into Indian equities.
Globally, US markets closed higher overnight. Asian markets mostly traded in the green on Thursday, although markets in China, Hong Kong, and Taiwan remained shut due to the Lunar New Year holiday. Japan’s Nikkei 225 rose 0.89 per cent, Singapore’s Straits Times Index gained over 1 per cent, and South Korea’s KOSPI advanced 2.5 per cent.
Meanwhile, minutes from the latest meeting of the Federal Reserve were interpreted as hawkish, with policymakers favouring holding interest rates and remaining open to further tightening if inflationary pressures resurface. US bond yields moved higher as expectations of near-term rate cuts eased.
-ANI
