Indian stock markets opened strong on Thursday, with the Sensex and Nifty extending their winning streak amid post-festive optimism. Positive early indicators and buying from institutional investors supported the rally.
The stock market kicked off Thursday’s session on a strong note as investors continued to ride the post-festive optimism. Both benchmark indices, the Sensex and Nifty, opened in the green, extending their winning streak for the week. The 30-share BSE Sensex surged 727 points to start the day at 85,154.15, while the Nifty 50 climbed 188.6 points to open at 26,057.20. On Wednesday, the Sensex had closed at 84,426.34 and the Nifty at 25,868.60.
Broader markets mirrored the positive mood — the BSE Midcap index edged up by 0.13%, and the Smallcap index also traded marginally higher at 53,845.21.
Early Signals from Gift Nifty Looked Upbeat
The Gift Nifty, seen as an early trendsetter for the Nifty 50, had already hinted at a strong opening. It began Thursday’s session 342.5 points higher at 26,265.50, compared to the previous close of 25,923, reflecting strong investor sentiment.
Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) also showed confidence in the Indian markets. On October 21, FIIs were net buyers of equities worth Rs 96 crore, while DIIs bought shares worth Rs 600 crore.
Asia Slips into Red Amid Global Uncertainty
While Indian markets stayed buoyant, Asian counterparts had a sluggish morning. Japan’s Nikkei 225 fell 1.35%, Hong Kong’s Hang Seng slipped 0.12%, and China’s Shanghai Composite dropped 0.66% after US markets and gold prices took a hit overnight.
Experts Advise a Measured Approach
Despite the upbeat start, experts urged investors to stay cautious amid global volatility.
“In this phase of heightened uncertainty, it’s wise to adopt a ‘buy-on-dips’ approach while keeping leverage in check,” said Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking Pvt Ltd.
She added that traders should consider fresh long positions only if Nifty holds above the 26,200 mark. “The overall sentiment remains positive, but it’s important to watch key technical levels and global market signals closely,” she noted.