Indian Stocks Surge as Sensex Climbs Over 150 Points, Nifty 50 Surpasses 26,050

Indian benchmark indices experienced a positive trading session on Thursday, with both the Sensex and Nifty demonstrating significant gains. The buoyant market sentiment was fueled by renewed foreign inflows and a widespread risk-on attitude across Asian markets, particularly after Nvidia's strong earnings report boosted global technology stocks.

At approximately 9:42 AM IST, the Sensex climbed over 150 points, while the Nifty 50 index moved above the 26,050 mark.

Key Gainers and Losers

Among the top performers, Adani Ports and Tech Mahindra both saw their stocks rise by 1% each. These gains contributed significantly to the overall positive momentum in the market.

Conversely, certain stocks experienced losses during the session. Further details on specific underperforming stocks were not available in the provided context.

Market Drivers

Several factors contributed to the optimistic market conditions:

• Foreign Fund Inflows: Renewed investment from foreign institutional investors (FIIs) played a crucial role in boosting market sentiment.
• Global Cues: Positive cues from Asian markets, spurred by Nvidia's impressive earnings, had a favorable impact on Indian stocks.
• IT Sector Growth: A rebound in major IT stocks, including Infosys, positively influenced the market. Infosys was notably active ahead of its ₹18,000 crore share buyback.

Nifty Bank Reaches Record High

In related market activity, the Nifty Bank index hit a record high of 58,826.90, driven by strong performances from IDFC First Bank, AU Small Finance Bank, and Bank of Baroda. This marked the first time the Nifty Bank had surpassed the 58,800 level.

Broader Market Trends

The broader market also reflected the positive sentiment, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices trading higher. This indicated widespread gains across different market segments.

Global Market Influence

Japan's Nikkei index, for instance, surged by 4% following Nvidia's earnings report, reflecting the global impact of the technology company's performance. This underscored how international market dynamics can influence domestic stock performance.

Overall Market Sentiment

The Indian stock market displayed resilience, recovering from early losses to finish higher on Wednesday. This recovery, combined with positive trends in foreign inflows and IT stocks, painted a promising picture for investors. The S&P BSE Sensex closed at 85,186.47, climbing 513 points or 0.61%, while the NSE Nifty 50 settled at 26,052.65, advancing 143 points or 0.55%.