Sensex jumps 558 points, Nifty gains 147 points as Indian markets open higher
2 min read
On Thursday, Indian shares opened higher, ending a 12‑day losing run as falling US Treasury yields lifted global risk sentiment and the market displayed early signs of a short‑term bounce from oversold levels.
Key Takeaways
- Sensex jumped 558 points (0.73%) to 77,468 and Nifty gained 147 points (0.61%) to 24,225.45, ending a 12-day losing streak.
- Falling US Treasury yields lifted global risk sentiment, sparking a short-covering-driven rebound.
- Nifty IT, MidSmall IT & Telecom and Metal led sectoral gains, each rising up to 1%.
- Analysts noted the Nifty bounced off key Fibonacci support at 24,060, forming a bullish reversal pattern.
In early trade the Sensex climbed 558 points, up 0.73% to 77,468, and the Nifty 50 added 147 points, a 0.61% rise to 24,225.45.
Sector‑wise, Nifty IT, Nifty MidSmall IT & Telecom and Nifty Metal led the advances, each gaining as much as 1% during the morning session.
After a steady decline over the previous 12 sessions, analysts noted that the rebound hints at a modest recovery, supported by short‑covering activity.
“The Nifty bounced off the key Fibonacci support at 24,060, forming a bullish reversal candle on the four‑hour chart near the rising channel’s support, indicating a possible recovery,” analysts remarked.
A sustained move above the 24,200‑24,260 band could extend the rebound toward 24,380‑24,540, while 24,060 remains the key support. A break below that level might pull the index down to around 23,575, they added.
Foreign Institutional Investors (FIIs) kept buying for a second straight session, acquiring shares worth ₹407 crore. Domestic Institutional Investors (DIIs) extended their purchase run to seven consecutive days, injecting ₹3,973 crore on Wednesday, based on provisional figures.
Global sentiment stayed supportive after news that the United States is weighing buybacks of longer‑dated Treasuries to help reduce borrowing costs.
Asian bond and equity markets also edged higher. On Wednesday, U.S. markets closed higher, with the S&P 500 up 0.21% and the Nasdaq gaining 0.16%.
Crude oil prices stayed mostly steady despite the U.S.–Iran tensions. Brent hovered near $92 a barrel, up 0.33%, while WTI traded at $84.52 a barrel, up 0.17%.
