The Sensex and Nifty indices opened higher on Thursday, supported by institutional buying and positive global market trends. The Sensex rose 181.14 points to 76,751.49, while the Nifty gained 43.20 points to 23,957.65, according to thehindubusinessline.com. This followed a rebound in US equities that ended a three-day losing streak, with the S&P 500, Nasdaq, and Dow all posting gains, as reported by livemint.com.
The market rally was driven by a pause in the recent surge of US Treasury yields, which helped lift investor sentiment globally. Asian markets showed mixed performance, but the positive momentum from Wall Street influenced Indian markets to open on a strong note. Institutional investors provided support, although IT stocks continued to drag the indices, per thehindubusinessline.com. The broader market sentiment was also buoyed by easing concerns over global economic conditions.
This uptick in Indian benchmark indices comes amid a volatile period marked by fluctuating global yields and mixed Asian market signals. The rebound in US equities is significant as it often sets the tone for emerging markets like India. The Sensex and Nifty's gains contrast with the recent downward pressure experienced over the past few sessions, highlighting the sensitivity of Indian markets to international developments. Crude oil prices fell slightly, while gold and silver prices saw gains, reflecting cautious investor positioning in commodities.
As of the latest update, the Sensex stood at 76,751.49 and the Nifty at 23,957.65, with crude oil prices at 8,572.00, gold at 153,790.00, and silver at 232,912.00, according to thehindubusinessline.com. These figures provide a snapshot of the market's status ahead of the Indian stock market opening on Thursday.