The Indian stock market opened on a positive note on Thursday, with key benchmark indices rising despite mixed global cues. The market saw strong buying interest in the public sector banking and financial services sectors, helping the indices sustain early gains.
By 9:45 am, the Bombay Stock Exchange Sensex was trading 244.25 points or 0.32 percent higher at 76,415.33, while the National Stock Exchange Nifty advanced 79.25 points or 0.34 percent to reach 23,124.50. Market breadth remained positive on the National Stock Exchange, with 1,528 stocks trading in the green and 781 stocks in the red.
The banking sector witnessed modest gains, with the Nifty Bank index rising 85.65 points or 0.17 percent to 49,565.10. The Nifty Midcap 100 index climbed 35.55 points or 0.07 percent to 50,791.95, reflecting mild gains in midcap stocks. However, small-cap stocks saw some selling pressure, with the Nifty Smallcap 100 index dropping 37.75 points or 0.24 percent to 15,995.25.
Among the top gainers in the Sensex pack were Zomato Limited, Kotak Mahindra Bank Limited, Sun Pharmaceutical Industries Limited, Adani Ports and Special Economic Zone Limited, Bajaj Finserv Limited, Mahindra & Mahindra Limited, Bajaj Finance Limited, ITC Limited, Infosys Limited, Tata Steel Limited, State Bank of India, and ICICI Bank Limited. On the other hand, Titan Company Limited, Tech Mahindra Limited, Hindustan Unilever Limited, IndusInd Bank Limited, and NTPC Limited were among the top losers in early trade.
Global market trends remained mixed, with the Dow Jones Industrial Average declining 0.50 percent to close at 44,368.56. The Standard & Poor’s 500 index dropped 0.27 percent to settle at 6,051.97, while the Nasdaq Composite registered a marginal gain of 0.03 percent, closing at 19,649.95. In Asian markets, indices in Jakarta and China were trading lower, whereas Seoul, Bangkok, Japan, and Hong Kong posted gains.
Institutional activity on February 12 reflected a continued sell-off by foreign institutional investors, who offloaded equities worth ₹4,969.30 crore. However, domestic institutional investors provided some support to the market, purchasing equities worth ₹5,929.24 crore on the same day.
The Indian equity market witnessed high volatility on Wednesday, with the Nifty recovering from an intraday low of 22,798 to close with modest gains. Analysts believe that technical levels will play a crucial role in shaping short-term market movements. According to Sameet Chavan, head of research for technical and derivative analysis at Angel One Limited, the 22,900-22,800 range is expected to act as a key support zone, while resistance is likely around 23,250-23,350 and further at 23,400-23,500.
Given the current market conditions, traders are advised to remain cautious and wait for price confirmation at key levels before taking fresh positions, according to Aakash Shah of Choice Broking Limited. The market’s trajectory will be closely watched as it navigates domestic and global uncertainties.
