Sensex rises over 150 pts, Nifty above 24,650; IT, pharma stocks rise
The Indian market mirrored gains seen across Asian markets, though investor caution ahead of Russia-U.S. talks on the Ukraine war kept sentiment in check in a holiday-shortened week.
By ETMarkets.com | Updated:
IANS
Indian benchmark indices Sensex and Nifty traded higher on Thursday, mirroring gains across Asian markets, though investor caution ahead of Russia-U.S. talks on the Ukraine war kept sentiment in check in a holiday-shortened week.
The benchmark BSE Sensex edged up 159 points, or 0.19%, to 80,696 at around 9:50 am, while the broader NSE Nifty 50 advanced 36 points, or 0.15%, to 24,655.
On the 30-stock Sensex, Infosys, Titan, Sun Pharmaceutical, Bajaj Finserv, Maruti Suzuki and Trent led early gains, rising between 0.2% and 1.4%.
Sectorally, IT and pharmaceutical shares outperformed, advancing 0.7% and 0.9%, respectively, in early trade.
Broader markets also firmed, with midcap stocks up 0.2% and small caps climbing 0.4%.
Jubilant FoodWorks, the operator of Domino’s Pizza in India, jumped nearly 5% after posting a sharply better-than-expected first-quarter profit, as demand was buoyed by lower-priced menu options and free delivery offers.
The Nifty and Sensex have each gained about 1% so far this week and are on track to break a six-week losing streak driven by trade tensions and tepid quarterly results.
Japan’s Nikkei retreated after a blistering six-day advance that propelled the index above the 43,000 mark for the first time. Shares in South Korea and Taiwan also slipped, while China’s blue-chip stocks and Hong Kong equities advanced.
Investors are eyeing Friday’s meeting in Alaska between U.S. President Donald Trump and Russian President Vladimir Putin, where the two leaders are expected to discuss a potential deal to end the war in Ukraine. Trump has warned of “severe consequences” if Putin refuses to agree to peace, but signaled that a follow-up meeting, possibly including Ukrainian President Volodymyr Zelenskiy, could happen quickly.
The talks are drawing close attention in India after Washington imposed an additional 25% tariff on Indian goods in response to New Delhi’s purchases of Russian oil.
Optimism over U.S. monetary easing also lifted bitcoin to a record $124,002.49. The cryptocurrency has surged 32% in 2025, while Ethereum is up 41% and hovering near its November 2021 peak.
In commodities, gold rose 0.5% to $3,371 an ounce.
"Fundamentally strong banking stocks have drifted down in the last one month while mid and smallcaps with elevated valuations continue to remain resilient. This is a liquidity-driven short-term aberration. Long-term investors can exploit this value discrepancy by moving away from highly valued mid and smallcaps to the safety of high quality largecaps," said Vijayakumar.
Though yesterday's upswing also stalled after reaching 24,670, the positioning of the oscillators as well as the reversal patterns that are about to mature in shorter periodicities encourage us to stick with the upside view, said Anand James, Chief Market Strategist at Geojit Investments, adding that this keeps the 24850-25000-25200 objectives still in play. "However, slippage past 24540 today might force us abandon the upswing hopes, though a direct fall to 24000 looks less likely today."
Brent crude futures rose 28 cents, or 0.43%, to $65.91 a barrel in early Asian trading, while U.S. West Texas Intermediate advanced 23 cents, or 0.37%, to $62.89.
The dollar hovered near multi-week lows against the euro and the British pound, with markets increasing bets that the Federal Reserve will resume cutting interest rates next month. The dollar index, which tracks the U.S. currency against the euro, sterling and four other major peers, was steady at 97.704 as of 0002 GMT, after losing about 0.8% over the previous two sessions and touching 97.626 on Wednesday, its weakest level since July 28.
(with inputs from agencies)
The benchmark BSE Sensex edged up 159 points, or 0.19%, to 80,696 at around 9:50 am, while the broader NSE Nifty 50 advanced 36 points, or 0.15%, to 24,655.
On the 30-stock Sensex, Infosys, Titan, Sun Pharmaceutical, Bajaj Finserv, Maruti Suzuki and Trent led early gains, rising between 0.2% and 1.4%.
Sectorally, IT and pharmaceutical shares outperformed, advancing 0.7% and 0.9%, respectively, in early trade.
Broader markets also firmed, with midcap stocks up 0.2% and small caps climbing 0.4%.
Jubilant FoodWorks, the operator of Domino’s Pizza in India, jumped nearly 5% after posting a sharply better-than-expected first-quarter profit, as demand was buoyed by lower-priced menu options and free delivery offers.
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The Nifty and Sensex have each gained about 1% so far this week and are on track to break a six-week losing streak driven by trade tensions and tepid quarterly results.
Global Markets
MSCI’s broad gauge of Asia-Pacific equities outside Japan edged up 0.2% on Thursday, extending the previous session’s rally on growing expectations the U.S. Federal Reserve will cut interest rates next month.Japan’s Nikkei retreated after a blistering six-day advance that propelled the index above the 43,000 mark for the first time. Shares in South Korea and Taiwan also slipped, while China’s blue-chip stocks and Hong Kong equities advanced.
Investors are eyeing Friday’s meeting in Alaska between U.S. President Donald Trump and Russian President Vladimir Putin, where the two leaders are expected to discuss a potential deal to end the war in Ukraine. Trump has warned of “severe consequences” if Putin refuses to agree to peace, but signaled that a follow-up meeting, possibly including Ukrainian President Volodymyr Zelenskiy, could happen quickly.
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The talks are drawing close attention in India after Washington imposed an additional 25% tariff on Indian goods in response to New Delhi’s purchases of Russian oil.
Optimism over U.S. monetary easing also lifted bitcoin to a record $124,002.49. The cryptocurrency has surged 32% in 2025, while Ethereum is up 41% and hovering near its November 2021 peak.
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In commodities, gold rose 0.5% to $3,371 an ounce.
Expert Views
The market will be in a wait-and-watch mode looking for clues from the Trump-Putin summit and PM Modi’s Independence Day message, said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, adding that from the technical perspective, "the market is oversold and short-positions are high. Any positive news which triggers short covering can lead to a rally. We will have to wait and watch.""Fundamentally strong banking stocks have drifted down in the last one month while mid and smallcaps with elevated valuations continue to remain resilient. This is a liquidity-driven short-term aberration. Long-term investors can exploit this value discrepancy by moving away from highly valued mid and smallcaps to the safety of high quality largecaps," said Vijayakumar.
Though yesterday's upswing also stalled after reaching 24,670, the positioning of the oscillators as well as the reversal patterns that are about to mature in shorter periodicities encourage us to stick with the upside view, said Anand James, Chief Market Strategist at Geojit Investments, adding that this keeps the 24850-25000-25200 objectives still in play. "However, slippage past 24540 today might force us abandon the upswing hopes, though a direct fall to 24000 looks less likely today."
FII/DII Tracker
On the institutional front, Foreign Institutional Investors (FIIs) sold equities worth Rs 3,644 crore on August 13, while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 5,624 crore.Crude Impact
Oil prices ticked higher on Thursday, clawing back some of the previous session’s losses, as traders weighed the geopolitical risks ahead of a planned meeting between U.S. President Donald Trump and Russian President Vladimir Putin.Brent crude futures rose 28 cents, or 0.43%, to $65.91 a barrel in early Asian trading, while U.S. West Texas Intermediate advanced 23 cents, or 0.37%, to $62.89.
Rupee vs Dollar
The Indian rupee slipped 2 paise to 87.49 against the U.S. dollar in early trade on Thursday, as investors awaited the outcome of a high-stakes meeting between U.S. President Donald Trump and Russian President Vladimir Putin.The dollar hovered near multi-week lows against the euro and the British pound, with markets increasing bets that the Federal Reserve will resume cutting interest rates next month. The dollar index, which tracks the U.S. currency against the euro, sterling and four other major peers, was steady at 97.704 as of 0002 GMT, after losing about 0.8% over the previous two sessions and touching 97.626 on Wednesday, its weakest level since July 28.
(with inputs from agencies)
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