The Indian benchmark indices opened higher on Thursday amid positive global cues, as buying was seen in the IT and metal sectors in the early trade.
At 9:29 am, the BSE Sensex was up 237.56 points or 0.29 per cent at 81,549.88, while the NSE Nifty rose 57 points or 0.23 per cent to trade at 24,809.45.
Sectoral indices also showed strength, with the Nifty Bank gaining 86.95 points or 0.16 per cent to 55,503.95. The Nifty Midcap 100 index was up 105.80 points or 0.19 per cent at 57,247.20, and the Nifty Smallcap 100 rose by 85.20 points or 0.48 per cent to 17,869.20.
Despite the Nifty declining for the past two sessions, analysts noted a drop in the India VIX, indicating a lack of demand for downside protection—typically not seen when investor sentiment is bearish.
“The 24,462 level remains crucial to determine whether this is a temporary dip or the beginning of a deeper correction. As long as the Nifty holds above this level, it remains a buyer’s market,” said Akshay Chinchalkar, Head of Research at Axis Securities.
Among the top performers in the Sensex pack were Infosys, Tata Steel, Tech Mahindra, Sun Pharma, HCL Tech, Tata Motors, HDFC Bank, Power Grid, TCS and L&T. Bajaj Finance was the only stock in the red during early trade.
Asian markets also opened in the green, with indices in Hong Kong, Bangkok, Seoul, China, and Japan trading higher. Jakarta was the only notable exception, trading lower.
On Wall Street, the previous session ended in losses. The Dow Jones closed at 42,098.70, down 244.95 points or 0.58 per cent. The S&P 500 fell 32.99 points or 0.56 per cent to 5,888.55, while the Nasdaq slipped 98.23 points or 0.51 per cent to 19,100.94.
Market sentiment remained sensitive to global developments, including U.S. tariff-related news. “The U.S. Federal Court striking down the reciprocal tariffs sends a strong message—that the President cannot act unilaterally against the interests of the market and the economy,” said Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
On the institutional front, foreign institutional investors (FIIs) were net buyers on May 28, purchasing equities worth ₹4,662.92 crore. Domestic institutional investors (DIIs) also continued their buying spree, picking up stocks worth ₹7,911.99 crore.
— IANS