Sensex Gains 180 Points, Nifty Holds 24,600 as IT Stocks Lead Early Rally

Sensex, Nifty Open Higher After RBI Holds Rates; IT Stocks Lead Early Gains

Indian benchmark equity indices opened in the green on Thursday, extending gains after the Reserve Bank of India (RBI) left key policy rates unchanged. Positive domestic sentiment helped offset cautious global cues, with IT stocks emerging as the biggest contributors to the early rally.

At around 9:35 am, the BSE Sensex was trading 180 points higher at 78,761.43, while the NSE Nifty gained 12 points to 24,626, holding firmly above the crucial 24,600 mark.

IT Stocks Shine, Broader Market Mixed

Technology stocks led the market higher, with the Nifty IT index rising 0.37%. The sector attracted buying interest even as global AI and semiconductor stocks remained under pressure following disappointing earnings from major chipmakers.

Consumer durables, pharmaceuticals and chemical stocks also traded in positive territory, while auto, realty, cement and metal counters witnessed mild profit booking.

Among Sensex stocks, Reliance Industries, Titan, Tech Mahindra, Asian Paints and Eternal were the top gainers. On the downside, Power Grid, Mahindra & Mahindra, Axis Bank, UltraTech Cement and Trent traded lower in early deals.

The broader market presented a mixed trend, with small-cap stocks outperforming and mid-cap indices trading marginally lower. Meanwhile, India VIX declined 1.36% to 11.90, indicating relatively low market volatility.

Asian Markets Under Pressure

Asian markets traded cautiously as enthusiasm surrounding the recent AI-driven rally faded. South Korea’s Kospi fell sharply, while Japan’s Nikkei also declined after weak investor reaction to earnings from global semiconductor companies.

Samsung Electronics and SK Hynix declined in Seoul, while Japanese technology stocks, including Kioxia and Tokyo Electron, also came under heavy selling pressure.

Brent crude oil remained steady near $79 per barrel as investors monitored developments surrounding a possible Iran peace agreement and its impact on global energy supplies.

Analysts See Stable Outlook

VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said the RBI’s policy decision was largely in line with expectations and is unlikely to significantly alter market direction in the near term.

He noted that sectors such as financials and automobiles continue to benefit from strong fundamentals despite the absence of immediate interest rate cuts. Healthy first-quarter earnings from banks, auto companies, pharmaceutical firms and telecom players also point to resilient domestic demand, although elevated US bond yields may continue to limit foreign institutional investor inflows.

Hitesh Tailor of Choice Broking said domestic equities were supported by stable global sentiment, while easing concerns over global trade and steady crude oil prices have helped improve investor confidence.

Nifty Outlook

According to Anand James, Chief Market Strategist at Geojit Investments, the Nifty continues to hold key support levels despite recent consolidation.

He believes a sustained move above 24,650 could trigger fresh buying momentum, while 24,775 remains the next major resistance level. On the downside, 24,550 is expected to act as immediate support during the session.

Investors will closely track global market trends, corporate earnings, crude oil prices and foreign fund flows for further direction throughout the trading day.