The Indian stock market opened slightly higher on Thursday, with early trade showing modest gains across both key indices. At 9:17 a.m., the NSE Nifty 50 stood at 25,076.70, up by 30.55 points (0.12 per cent), while the BSE Sensex was at 81,786.73, rising 13.07 points (0.02 per cent).
Market analysts said positive global sentiment helped maintain stability in domestic indices, even as investors awaited further clarity on international developments.
Experts noted that the early uptrend came amid mixed global cues and easing geopolitical concerns in the Middle East. Banking and market expert Ajay Bagga said, “Israel-Hamas peace deal Phase 1 is done as per President Trump and the Qatar government. The Middle East risk premia is falling this morning in Asia. Japan is in a celebratory mode, with the Nikkei hitting yet another all-time high as the PM-in-waiting talks of a 10% flat income tax to replace the current slab-wise structure of up to 45%.”
Indian markets have seen two consecutive days of Foreign Portfolio Investment (FPI) net inflows.
In the commodities market, gold continued its upward rally. Manav Modi, Analyst – Precious Metal Research at Motilal Oswal Financial Services Ltd., said, “Gold surged past the USD 4,000 level for the first time, building on a record-breaking rally as broader geopolitical and economic uncertainty, along with expectations of U.S. interest rate cuts, sent investors flocking to the safe-haven asset.”
He added that silver also touched record highs, supported by similar factors that drove gold and copper prices. “Gold, traditionally seen as a store of value during times of instability, is up more than 55 per cent year-to-date after gaining 27 per cent in 2024. Silver is up more than 60 per cent so far this year, benefiting from tightness in the spot market,” Modi said.
Analysts noted that while optimism persists, profit-booking from recent highs and developments related to the Israel-Hamas ceasefire could influence short-term sentiment. Markets will also be watching closely for updates on the ongoing U.S. government shutdown, now in its ninth day, which continues to weigh on global risk appetite.
On the primary market front, Tata Capital’s public issue was subscribed 1.95 times by the end of day three on Wednesday, led by strong participation from qualified institutional investors (QIBs), who subscribed 3.42 times. Non-institutional investors subscribed 1.98 times, while retail investors subscribed 1.1 times.
Similarly, LG Electronics attracted robust investor interest, with its public issue subscribed 3.32 times by the second day. The bids were led by non-institutional investors at 7.6 times, followed by QIBs at 2.59 times and retail investors at 1.9 times.
(ANI)